Order flow analytics analyze real-time buying and selling trends by examining the volume, timing, and order size across both retail and institutional traders. These insights offer a more detailed understanding of price behavior and market sentiment for a stock, allowing the trader or institution to make the most informed decision possible.
NBIS Intraday Performance
At the time of the Power Inflow, NBIS was priced at $223.76. Following the signal:
• Intraday High As Of 2:30PM EST: $234.43 (+4.75%)
This article is for informational purposes only and does not constitute financial advice, investment recommendations, or a solicitation to buy or sell securities. The analysis is based on stock order flow data, but accuracy is not guaranteed. Investing involves risk, including possible loss of principal, and past performance is not indicative of future results. Please consult a licensed financial advisor before making any investment decisions.
Benzinga Disclaimer: This article is from an unpaid external contributor. It does not represent Benzinga’s reporting and has not been edited for content or accuracy.
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LONDON--(BUSINESS WIRE)--Nebius, the AI cloud company, today announced the Physical AI Living Lab, a six-month program that equips British and European robotics startups with NVIDIA's physical AI development tools and Nebius's AI cloud infrastructure.
Physical AI depends on large-scale simulation, synthetic data, and accelerated compute that most early-stage robotics companies cannot assemble on their own. The Physical AI Living Lab removes that barrier, putting the same class of tooling and compute used to build physical AI at scale into the hands of founders, so they can move from simulation to real-world deployment faster.
The Lab builds on Nebius and NVIDIA's collaboration to create a cloud platform for robotics and physical AI. The companies intend to extend the Physical AI Living Lab to other regions over time and bring in further cohorts as the program grows.
Evan Helda, Head of Physical AI at Nebius, said:
"Most robotics teams can build a strong model — the bottleneck is getting the simulation, synthetic data, and compute in place to take it further. The Living Lab is built around that problem: founders get the full NVIDIA physical AI stack on Nebius AI Cloud and direct time with our engineers, so they spend time building robots, not assembling infrastructure. That proximity works both ways — working shoulder-to-shoulder with these teams sharpens how we run physical AI ourselves, and that feedback loop is exactly what we want to replicate as we bring the Lab to more cohorts and regions."
Anthony Hills, Director, UK&I, NVIDIA, said:
"The UK has world-class robotics and AI research, but there's still a real gap between that innovation and scaled, market-ready solutions in physical AI. This lab is about closing that gap by giving UK founders affordable access to the first two computers physical AI needs most: cloud-scale training on Nebius and NVIDIA's full simulation and synthetic data stack, including Cosmos and Isaac, running on NVIDIA RTX PRO GPUs. By removing the compute and tooling barriers that usually slow robotics companies down, we're giving UK startups a clear path from promising prototype to deployed systems that can move the needle for the UK economy and society."
Participating startups in the Physical AI Living Lab will work hands-on using NVIDIA technologies to deploy their physical AI workloads — NVIDIA OSMO for workload orchestration, NVIDIA Cosmos world foundation models, and NVIDIA Isaac Sim and NVIDIA Isaac Lab for robot simulation and training — together with the NVIDIA Physical AI Data Factory Blueprint, all running on Nebius infrastructure. Synthetic data generation is provided through Voxel51's FiftyOne integration, built on Cosmos world foundation models.
The first phase of the Physical AI Living Lab will run on Nebius's UK-based infrastructure, built on NVIDIA RTX PRO 6000 Blackwell Server Edition GPUs. Beyond the simulation and training tools, participants build, fine-tune and run their models on Nebius AI Cloud — the company's full-stack platform for taking AI from data and training through to production deployment.
Applications run through the NVIDIA Inception pipeline. The first cohort will begin in September 2026. Engineers from both Nebius and NVIDIA will provide technical guidance throughout the program.
About Nebius
Nebius, the AI cloud company, is building the full-stack platform for developers and companies to take charge of their AI future — from data and model training to production deployment. Founded on deep in-house technological expertise and operating at scale with a rapidly expanding global footprint, Nebius serves startups and enterprises building AI products, agents and services worldwide.
Nebius is listed on Nasdaq (NASDAQ: NBIS) and headquartered in Amsterdam.
For more information please visit www.nebius.com
Media kit www.nebius.com/media-kit.
Disclaimer
Forward-looking statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which involve risks and uncertainties. All statements contained in this press release other than statements of historical fact, including, without limitation, statements regarding our future financial and business performance, strategy, expected growth, planned investments and capital expenditures, capacity expansion plans, anticipated future financing transactions and expected financial results, are forward-looking statements. The words "anticipate," "believe," "continue," "estimate," "expect," "guide," "intend," "likely," "may," "will" and similar expressions and their negatives are intended to identify forward-looking statements.
These forward-looking statements are subject to risks, uncertainties and assumptions, some of which are beyond our control. Actual results may differ materially from the results predicted or implied by such statements, and our reported results should not be considered as an indication of future performance. The potential risks and uncertainties that could cause actual results to differ from the results predicted or implied by such statements include, among others: market, macroeconomic and geopolitical conditions; our ability to build, operate and manage our businesses to the desired scale; competitive pressures; technological developments; our ability to secure and retain clients; our ability to secure additional capital to enable the growth of the business; unpredictable sales cycles; and potential pricing pressures; as well as those risks and uncertainties related to our continuing businesses included under the captions "Risk Factors" and "Operating and Financial Review and Prospects" in our Annual Report on Form 20-F for the year ended December 31, 2025, filed with the SEC on April 30, 2026, which is available on our investor relations website at https://nebius.com/investor-hub and on the SEC website at www.sec.gov.
All information in this press release is as of the date hereof (unless stated otherwise). Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.
In addition, statements that "we believe" and similar statements reflect our beliefs and opinions on the relevant subject. These statements are based upon information available to us as of the date hereof and, while we believe such information forms a reasonable basis for such statements, such information may be limited or incomplete, and our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all potentially available relevant information. These statements are inherently uncertain, and investors are cautioned not to unduly rely upon these statements.
Nebius, the AI cloud company, today announced the Physical AI Living Lab, a six-month program that equips British and European robotics startups with NVIDIA's physical AI development tools and Nebius's AI cloud infrastructure.
Physical AI depends on large-scale simulation, synthetic data, and accelerated compute that most early-stage robotics companies cannot assemble on their own. The Physical AI Living Lab removes that barrier, putting the same class of tooling and compute used to build physical AI at scale into the hands of founders, so they can move from simulation to real-world deployment faster.
The Lab builds on Nebius and NVIDIA's collaboration to create a cloud platform for robotics and physical AI. The companies intend to extend the Physical AI Living Lab to other regions over time and bring in further cohorts as the program grows.
Evan Helda, Head of Physical AI at Nebius, said:
"Most robotics teams can build a strong model — the bottleneck is getting the simulation, synthetic data, and compute in place to take it further. The Living Lab is built around that problem: founders get the full NVIDIA physical AI stack on Nebius AI Cloud and direct time with our engineers, so they spend time building robots, not assembling infrastructure. That proximity works both ways — working shoulder-to-shoulder with these teams sharpens how we run physical AI ourselves, and that feedback loop is exactly what we want to replicate as we bring the Lab to more cohorts and regions."
Anthony Hills, Director, UK&I, NVIDIA, said:
"The UK has world-class robotics and AI research, but there's still a real gap between that innovation and scaled, market-ready solutions in physical AI. This lab is about closing that gap by giving UK founders affordable access to the first two computers physical AI needs most: cloud-scale training on Nebius and NVIDIA's full simulation and synthetic data stack, including Cosmos and Isaac, running on NVIDIA RTX PRO GPUs. By removing the compute and tooling barriers that usually slow robotics companies down, we're giving UK startups a clear path from promising prototype to deployed systems that can move the needle for the UK economy and society."
Participating startups in the Physical AI Living Lab will work hands-on using NVIDIA technologies to deploy their physical AI workloads — NVIDIA OSMO for workload orchestration, NVIDIA Cosmos world foundation models, and NVIDIA Isaac Sim and NVIDIA Isaac Lab for robot simulation and training — together with the NVIDIA Physical AI Data Factory Blueprint, all running on Nebius infrastructure. Synthetic data generation is provided through Voxel51's FiftyOne integration, built on Cosmos world foundation models.
The first phase of the Physical AI Living Lab will run on Nebius's UK-based infrastructure, built on NVIDIA RTX PRO 6000 Blackwell Server Edition GPUs. Beyond the simulation and training tools, participants build, fine-tune and run their models on Nebius AI Cloud — the company's full-stack platform for taking AI from data and training through to production deployment.
Applications run through the NVIDIA Inception pipeline. The first cohort will begin in September 2026. Engineers from both Nebius and NVIDIA will provide technical guidance throughout the program.
About Nebius
Nebius, the AI cloud company, is building the full-stack platform for developers and companies to take charge of their AI future — from data and model training to production deployment. Founded on deep in-house technological expertise and operating at scale with a rapidly expanding global footprint, Nebius serves startups and enterprises building AI products, agents and services worldwide.
Nebius is listed on Nasdaq (NASDAQ: NBIS) and headquartered in Amsterdam.
For more information please visit www.nebius.com
Media kit www.nebius.com/media-kit.
Disclaimer
Forward-looking statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which involve risks and uncertainties. All statements contained in this press release other than statements of historical fact, including, without limitation, statements regarding our future financial and business performance, strategy, expected growth, planned investments and capital expenditures, capacity expansion plans, anticipated future financing transactions and expected financial results, are forward-looking statements. The words "anticipate," "believe," "continue," "estimate," "expect," "guide," "intend," "likely," "may," "will" and similar expressions and their negatives are intended to identify forward-looking statements.
These forward-looking statements are subject to risks, uncertainties and assumptions, some of which are beyond our control. Actual results may differ materially from the results predicted or implied by such statements, and our reported results should not be considered as an indication of future performance. The potential risks and uncertainties that could cause actual results to differ from the results predicted or implied by such statements include, among others: market, macroeconomic and geopolitical conditions; our ability to build, operate and manage our businesses to the desired scale; competitive pressures; technological developments; our ability to secure and retain clients; our ability to secure additional capital to enable the growth of the business; unpredictable sales cycles; and potential pricing pressures; as well as those risks and uncertainties related to our continuing businesses included under the captions "Risk Factors" and "Operating and Financial Review and Prospects" in our Annual Report on Form 20-F for the year ended December 31, 2025, filed with the SEC on April 30, 2026, which is available on our investor relations website at https://nebius.com/investor-hub and on the SEC website at www.sec.gov.
All information in this press release is as of the date hereof (unless stated otherwise). Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.
In addition, statements that "we believe" and similar statements reflect our beliefs and opinions on the relevant subject. These statements are based upon information available to us as of the date hereof and, while we believe such information forms a reasonable basis for such statements, such information may be limited or incomplete, and our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all potentially available relevant information. These statements are inherently uncertain, and investors are cautioned not to unduly rely upon these statements.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260608542578/en/
Nebius (NASDAQ: NBIS) stock surged more than 4% in pre-market trading on Tuesday, June 9, as the company announced a new Physical AI Living Lab project with Nvidia (NASDAQ: NVDA).
According to the official press release, the project is a six-month program meant to prop up British and European robotics startups by introducing them to Nvidia’s physical AI development tools and Nebius’s own AI cloud infrastructure.
At press time, Nebius stock was sitting at $227.3 in pre-market, with the last closing price at $218. While the past week has been tough for the company – it’s down nearly 20% on the five-day chart – its overall performance this year has been more than solid, as it’s up 142% year-to-date.
24-hour NBIS share price. Source: Google Finance Nebius and Nvidia introduce Physical AI Living Lab Specifically, participants in the Physical AI Living Lab program will be able to leverage Nvidia’s Cosmos, Isaac, and OSMO platforms for simulation, synthetic data generation, and AI model development.
The Living Lab is powered by Nvidia’s latest Blackwell GPUs. This, the partners promise, will give AI startups access to high-performance computing capabilities needed for large-scale robotics training workloads.
“Most robotics teams can build a strong model — the bottleneck is getting the simulation, synthetic data, and compute in place to take it further. The Living Lab is built around that problem: founders get the full NVIDIA physical AI stack on Nebius AI Cloud and direct time with our engineers, so they spend time building robots, not assembling infrastructure,” said Evan Helda, Head of Physical AI at Nebius.
The first cohort of startups is scheduled to begin the program in September 2026. In the future, the two partners intend to extend the Physical AI Living Lab to other regions and bring in further cohorts as the program grows.
Featured image via Shutterstock
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Nebius NBIS is making a bigger UK AI infrastructure push, committing about £1.7 billion to add 3 new deployments built on Nvidia NVDA technology.
The Dutch AI infrastructure company said the expansion will build on its London commercial and AI R&D hub, after launching its first UK deployment of Nvidia Blackwell Ultra infrastructure in November 2025. The 3 new sites will use Nvidia's latest full stack AI factory platform and are expected to reach a combined 65 MW when fully ramped in 2027.
The move gives Nebius a stronger foothold in the UK just as demand for domestic AI compute keeps rising. The company said the project aligns with the UK government's AI Opportunities Action Plan and should support British companies, researchers and public services building AI at scale.
Nebius also pointed to early customer traction, including Revolut using Nebius Token Factory for financial crime agents. Shares rose about 4% premarket, while Nvidia gained about 2%. Investors will now watch whether the UK buildout turns capacity into revenue growth.
Key Takeaways NBIS plans a 1.7B euros U.K. AI expansion with three new NVIDIA-powered infrastructure deployments.Nebius expects its U.K. deployments to deliver 65 MW of AI computing capacity by 2027.NBIS signed a 10-year deal with Kao Data for 22 MW of AI infrastructure at Harlow campus. Nebius Group N.V. (NBIS - Free Report) has emerged as an ambitious player seeking to establish itself as a leading AI cloud provider. Recently, it announced plans to invest approximately £1.7 billion in expanding AI compute capacity across the UK. The investment includes three new deployments of advanced NVIDIA-powered infrastructure. The initiative represents one of the largest AI infrastructure commitments in the country and aligns closely with the U.K. government's ambition to become a global AI powerhouse.
Nebius launched its first U.K. deployment of NVIDIA Blackwell Ultra infrastructure in late 2025. Building on that foundation, the company now plans to establish three additional sites across the UK, deploying the latest generations of NVIDIA’s (NVDA - Free Report) full-stack AI factory platform technology. When fully operational in 2027, these deployments are expected to deliver 65 MW of AI computing capacity. The investment directly supports the U.K. government’s AI Opportunities Action Plan, which seeks to accelerate AI adoption across industries while strengthening domestic technological capabilities.
The U.K. investment is part of a broader strategy by Nebius to establish itself as a leading full-stack AI cloud provider. Recent additions to its platform, including integrations with AI-focused companies such as Tavily, Eigen AI and Clarifai, have enhanced its capabilities in agentic search, inference and AI deployment. Combined with the launch of Nebius AI Cloud 3.5 and expanded serverless AI services, the company is positioning itself as a comprehensive platform for enterprise AI adoption.
To further accelerate the UK’s AI future, NBIS forged a partnership with Kao Data. Per the agreement, Nebius will deploy 22 MW of AI infrastructure at Kao Data’s Harlow data centre campus under a 10-year contract, creating one of the largest AI-focused cloud deployments in the country. NBIS will host its AI Cloud platform and Token Factory inference service at Kao Data’s state-of-the-art campus. The deal supports the U.K. government's AI Opportunities Action Plan and contributes directly to expanding the nation's domestic AI computing capacity.
How NBIS’ Adversaries Ramp Up AI InvestmentsCoreWeave, Inc. (CRWV - Free Report) has built a diversified customer base of leading AI developers and enterprises. Beyond GPUs, it offers a full AI cloud platform with compute, storage, networking and software services. Supported by expanding power capacity and infrastructure investments, the company is well-positioned to meet growing demand for AI cloud services and support future growth. Recently, it became the first AI cloud provider to complete the bring-up and full system-level validation of NVDA Vera Rubin NVL72, a next-generation AI platform, positioning CRWV at the forefront of next-generation AI infrastructure and strengthening its competitive advantage in the rapidly expanding AI cloud market.
Microsoft (MSFT - Free Report) capitalizes on AI business momentum and Copilot adoption alongside accelerating Azure cloud infrastructure expansion. AI business surpassed $37 billion ARR in the fiscal third quarter. The Azure AI platform continues to benefit from demand across AI and non-AI services, with customer demand exceeding available capacity. It added another GW of capacity during the quarter and remains on track to double its overall data center footprint within two years. New data center investments were announced across four continents. In May, it signed new agreements with U.S. and U.K. government partners, the Center for AI Standards and Innovation and the AI Security Institute to advance AI testing and safety evaluation frameworks.
NBIS Price Performance, Valuation and EstimatesShares of Nebius have gained 160.5% year to date compared with the Internet–Software and Services industry’s growth of 11.5%.
Image Source: Zacks Investment Research
From a valuation standpoint, NBIS trades at a forward price-to-sales of 8.45X, higher than the industry’s 4.21X.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for NBIS’ earnings for 2026 has been revised upward over the past 60 days.
Image Source: Zacks Investment Research
NBIS currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Nebius Group N.V. remains a high-conviction AI-native cloud infrastructure play, with shares more than doubling since our last buy call. NBIS commands a premium valuation due to explosive 684% revenue growth, margin expansion, and pivotal positioning in AI hyperscaler capex cycles. Significant risks include ongoing dilution from share issuance, convertible debt, and share-based compensation, alongside potential future slowdowns in AI capex.
Shares of Nebius Group NBIS jumped more than 5% on Tuesday after the AI cloud company launched a new Physical AI Living Lab with NVIDIA (NVDA), expanding its efforts to support robotics startups across the UK and Europe.
Nebius said the six-month program will provide selected startups with access to NVIDIA's physical AI software tools and Nebius AI Cloud infrastructure. The initiative is designed to help companies accelerate the transition from virtual testing environments to real-world deployment of robotics systems.
Nebius said the first group of participants is expected to begin the program in September 2026. The company added that the project may be extended to additional regions over time as demand for physical AI development grows.
Nebius noted that the initial phase will run on its UK-based infrastructure powered by NVIDIA RTX PRO 6000 Blackwell Server Edition GPUs. NVIDIA said the collaboration is intended to help startups overcome computing and development hurdles that can slow commercialization efforts.
The launch further expands the relationship between Nebius and NVIDIA as both companies target growing demand for AI-driven robotics applications.
Most companies that have surged by more than 160% in a single year do not continue to make headlines with large-scale expansion announcements.
Nebius Group Today
$222.24 +10.55 (+4.98%)
As of 04:00 PM Eastern
52-Week Range$43.89▼
$278.84P/E Ratio71.69
Price Target$203.25
But Nebius Group NASDAQ: NBIS is not most companies. Even as the stock has pulled back almost 22% from its 52-week high of $278.84 to trade around $218, the fundamental news flow has barely slowed.
The most recent headline, a £1.7 billion UK infrastructure expansion announced June 8 is the kind of development that tends to get overlooked. Especially during a market pullback. But for long-term investors, whether involved or watching from the sidelines, that combination of a meaningful pullback and accelerating fundamental momentum is worth close attention.
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The UK Expansion: A Statement of ScaleOn June 8, Nebius announced it is investing approximately 1.7 billion British pounds (approx. $2.3 billion) to build out AI capacity in the UK through three new deployments of NVIDIA NASDAQ: NVDA infrastructure. The sites will deploy the latest generations of NVIDIA's full-stack AI factory platform technology and are expected to reach a combined capacity of 65 megawatts when fully operational in 2027. Alongside that announcement, Nebius signed a 22-megawatt, 10-year agreement with Kao Data at its Harlow data center campus, supporting AI innovation across UK academic, research, and enterprise communities and aligning directly with the UK government's AI Opportunities Action Plan.
The UK expansion builds on Nebius's first deployment of NVIDIA Blackwell Ultra infrastructure in the country, launched in November 2025. The three new sites deepen that footprint considerably and establish the UK as a primary European hub for Nebius's commercial operations and AI research and development. This follows the March announcement of a 310-megawatt AI factory in Finland and the May announcement of a gigawatt-scale AI factory in Missouri. The geographic diversification across North America and Europe is deliberate, giving Nebius's customers, including enterprises in fintech, healthcare, and AI research, both U.S. and European regional availability as they scale their AI deployments.
Bank of America analyst Tal Liani raised the firm's price target on Nebius to $280 from $240 on June 8, maintaining a Buy rating, citing strengthening compute demand as the direct rationale. The consensus price target across 15 analysts stands at $203.25, with Citi's high target of $287 remaining the most bullish view on the Street.
The Broader Infrastructure StoryThe UK announcement does not exist in isolation regarding scale and expansion. Nebius enters this expansion phase with a contracted backlog of almost $46 billion, anchored by a $27 billion multi-year deal with Meta Platforms NASDAQ: META and a commitment of up to $17.4 billion with Microsoft NASDAQ: MSFT. Q1 2026 revenue of $399 million grew 684% year over year, and management has guided 2026 full-year revenue of $3 billion to $3.4 billion.
Capital expenditure guidance for 2026 was raised to $20 billion to $25 billion, reflecting the pace at which hyperscaler and enterprise demand is being converted into signed contracts and deployable infrastructure. Beginning in the second half of 2026, Nebius will also be among the first AI cloud providers to offer NVIDIA Vera Rubin NVL72, the next-generation reasoning and agentic AI platform, across its U.S. and European data centers.
A Pullback Worth WatchingThe stock is down almost 22% from its 52-week high, pulling back toward the 20-day simple moving average (SMA) after a period of significant outperformance. For investors who missed the earlier move, or who have been waiting for a cleaner entry point, the current setup deserves attention. Especially if the stock can find support between the 20-day SMA and prior higher timeframe support near $180 and $200. Price digestion within that zone could signal stability and a potential higher low forming within its broader uptrend.
Nebius Group N.V. (NBIS) Price Chart for Thursday, June, 11, 2026
The broader market has been under pressure, particularly in high-beta AI infrastructure names, and NBIS, with a beta exceeding 4, is not immune to that dynamic. But pullbacks of this kind in high-momentum growth stocks, especially when accompanied by continued acceleration in the fundamental story rather than any deterioration, have historically been opportunities rather than major risks.
With Q2 earnings estimated for Aug. 6, a bullish analyst coverage base of 15 analysts, over $5 billion in institutional inflows over the past year, and the £1.7 billion UK expansion now adding a substantial new European capacity chapter to the story, the Nebius thesis is as intact as it has ever been.
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I've got two rapidly growing stocks that look like strong stock picks for the next decade. However, there is an increased risk with these two, so returns aren't guaranteed. But if they do pan out, they could easily crush their peers.
Image source: Getty Images.
SoundHound AI SoundHound AI (SOUN +3.70%) is involved in a critical area of AI. Currently, most interactions with generative AI are via a keyboard.
However, talking to a generative AI agent is also possible with some platforms. The application of that technology is massive and has the potential to automate a lot of jobs in the customer service industry. SoundHound AI helps facilitate that automation and has already rolled out its products in restaurant drive-throughs in several chains.
While this market is relatively small, SoundHound AI could grow into a massive entity if it can automate customer service interactions in the financial, healthcare, and insurance industries. It's already signing customers in these sectors and could lead to major growth down the road.
Today's Change
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During its most recent quarter, revenue rose 52% year over year, but various acquisitions skew some of the growth SoundHound AI reports. It made another one in the first quarter with its LivePerson acquisition and now targets a minimum of $350 million to $400 million in revenue by the end of 2027. For reference, SoundHound AI has generated $184 million in revenue over the past 12 months. That's solid growth ahead, but investors will want to see more over the next decade, especially if it can break into one of those key industries.
With SoundHound AI focused on growing its platform, it shouldn't come as a surprise to investors that it's deeply unprofitable. It posted an operating loss margin of 118% in Q1, which is a deep hole to claw out of. However, if it can rapidly grow over the next decade, it may turn into a highly profitable company once growth isn't the primary focus.
I think SoundHound AI is a solid, long-shot investment. If it pans out, it will be a monster stock. On the flip side, SoundHound AI's business may be disrupted by a larger AI player, so success is far from guaranteed.
Nebius Nebius (NBIS +4.80%) is a completely different company in the AI realm. It's known as a neocloud company, which indicates it is a cloud computing business that's entirely focused on AI.
Nebius has a full-stack offering that gives its clients everything they need to train and run AI applications, and its product is becoming a hit. It has landed major contracts with Microsoft (MSFT 1.75%) and Meta Platforms, and Nvidia has also taken a stake in the business. The Nvidia deal gives Nebius early access to new technologies, making it a critical company to partner with to understand the capabilities of new technology before it's widely rolled out.
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All of this has resulted in a booming business, with Nebius' revenue rising a jaw-dropping 684% in Q1. That's not a flash in the pan, either. Wall Street analysts are bullish on Nebius' future, with 550% revenue growth expected this year and 219% projected in 2027. That's monster growth that will transform the business and make investors a ton of money, but there's something to watch out for.
From a profitability standpoint, Nebius posted an operating loss margin of 32%, which is far better than SoundHound AI's. While it's not fully profitable, with Nebius's rapid growth rates, it will easily be able to bridge the gap between losses and profits as it grows into its new business over the next decade.
Nebius' success or future isn't in question, but its business economics may be. Nebius is raising and borrowing capital to expand its data center footprint. This creates a bit of an unstable future if the return on investment is a bit lower than they hoped. Nebius will need the AI build-out to continue and customers to stay on long after its completion to transform from a money-losing business to a profitable one.
However, there are several cloud computing companies that have already achieved success in this realm, so Nebius could still be successful. Still, it's far from guaranteed, although I like its chances more than SoundHound AI's.
Nebius Group N.V. delivered extraordinary Q1 results, with revenues up 684% YoY and ARR growth of 674%, despite compute capacity constraints. The company raised 2026 contracted power guidance to >4GW and increased CapEx plans to $20–25B, aiming to capture surging AI cloud demand. Adjusted EBITDA margin improved sharply to 32% in Q1, with 2026 guidance targeting ~40%, signaling strong operating leverage and profitability momentum.
Monday's share price surge for Entain PLC (LSE:ENT) and Flutter Entertainment PLC (LSE:FLTR, NYSE:FLUT) reflects genuine relief at the Wall Street Journal's report of bipartisan Senate legislation. But a bill is not a business model, and the forces driving prediction market growth remain intact.
The market's reaction to the Journal's report is understandable. Entain jumped 9%, Flutter rose 5% premarket, and analysts at Citi were quick to call it.
On the surface, legislation that would strip Kalshi and Polymarket of their ability to offer sports contracts looks like a significant competitive reprieve for licensed operators who have spent years and hundreds of millions of dollars navigating state-by-state regulatory approval.
The rally may be getting ahead of the reality.
A bill is not yet a law
Congressional legislation targeting a well-funded industry with sympathetic executive-branch regulators is rarely straightforward.
The CFTC chairman, Michael Selig, has publicly positioned his agency as the preeminent and exclusive federal regulator of prediction markets, and the Trump administration's broader orientation, including Donald Trump Jr.'s advisory roles at both Kalshi and Polymarket, is not one of hostility toward the sector.
Getting a bill through both chambers in that environment will require sustained political will that bipartisan support alone cannot guarantee.
Even if the bill passes, the platforms' legal firepower is substantial. Polymarket is backed by up to $2 billion from Intercontinental Exchange; Kalshi raised $1 billion in its latest funding round. Both will litigate aggressively, and federal preemption arguments could stall implementation for years.
The structural shift is already priced in
The deeper problem for regulated operators is that prediction markets have already demonstrated something the Senate bill cannot undo: there is enormous consumer appetite for a product that looks and feels like sports betting but is not classified as such.
That appetite exists in California and Texas, two of the country's largest states, where conventional sportsbooks cannot legally operate. Kalshi ran advertising campaigns there.
The demand did not disappear when Nevada or Arizona moved against the platforms; it simply looked for the next available channel.
If the legislation the Journal describes forces Kalshi and Polymarket to retreat from US sports markets, then consumer demand does not automatically flow to FanDuel or DraftKings.
The regulatory gap these platforms exploited exists because federal and state frameworks were never designed with binary event contracts in mind. Closing one specific backdoor does not redesign the architecture.
The longer competitive logic
Prediction markets also carry a structural advantage that legislation cannot easily address: they are genuinely global. Blockchain-based platforms operating across multiple jurisdictions are considerably harder to contain than a domestic sportsbook.
A determined operator with the right infrastructure could continue offering sports contracts to US users through offshore entities, much as offshore poker sites did for years after the Unlawful Internet Gambling Enforcement Act of 2006.
Monday's moves in Entain and Flutter reflect a real reduction in near-term competitive pressure. But investors pricing in a permanent resolution to the prediction market threat are likely to be disappointed. The bill, if it passes, buys time. It does not buy the future.
Entain (LON:ENT) reported a first-quarter trading update that executives said kept the group “in line with expectations,” while highlighting accelerating underlying volume growth and continued momentum across several core markets.
CEO Stella David said the company’s “diverse and globally scaled portfolio of podium positions” continues to support “consistent and sustainable growth,” even as many markets experienced “particularly customer-friendly sports results” that weighed on sports margins. She added that the group exited 2025 with strong momentum and that this has “continued so far this year.”
Q1 performance: steady NGR, faster volume growth For the quarter, Entain said group net gaming revenue (NGR) rose 3%, with online NGR up 5%. David stressed that volumes provided a clearer picture of underlying performance in a quarter impacted by sports outcomes, noting group volumes were up 8% and online volumes rose 10%. She said Q1 marked the group’s eighth consecutive quarter of online growth.
Newly joined executive Mike Snape (speaking on his first Entain update) echoed that view, noting that the company began 2026 with momentum that “not only continu[ed], but accelerat[ed] into Q1.” Snape also said the company has begun including volume growth in its release because it “gives the cleanest picture of underlying performance, removing some of that noise from sports margins.”
Snape broke out the main drivers in Q1:
Online NGR rose 5%, with volumes up 10%. Customer-friendly results pushed sports NGR down 1%, offset by iGaming strength, with iGaming up 9%. Retail performance saw softer sports margins but was supported by wager growth and gaming, contributing to overall retail volume growth of 3%. UK strength and focus on navigating higher taxes David called the U.K. “once again, a standout performer,” saying Entain expected to have gained share in both online and retail. She argued this positions the company to better withstand “the draconian tax increases” than competitors. David also highlighted the company’s tax contribution, saying Entain paid GBP 574 million in U.K. taxes in 2025, while “the growing black market pays zero tax,” adding that the company is lobbying government to curb “the advertising and promotion of these unlicensed sites.”
Snape said the U.K. and Ireland delivered “another fantastic result,” with total NGR up 6% and online NGR up 13%, despite lapping a “23% comparator” from the prior year. Retail was described as flat on a like-for-like basis, with customers continuing to engage with gaming and sports terminals.
On a question about early impacts from the April tax increase, David said it was “really too early to say,” but emphasized that Entain had been increasing share ahead of the changes and sees further opportunity, particularly given a “long tail” of smaller regulated operators. Snape added that Entain has “absolutely not” pulled back on growth-driving investment in the U.K., despite expecting other operators might do so given the severity of the tax changes.
David also pointed to product and journey improvements as part of the U.K. share gains, citing “better bet builder” features in football and horse racing and a “new Ladbrokes experience” planned ahead of the World Cup.
International markets: Australia rebound, mixed impact from sports margins David said Australia’s recovery “continued and is now back to meaningful year-on-year growth,” which she attributed to a “disciplined and reinvigorated approach” under new management. Snape reported Australia was up 12%, which he said was the first double-digit NGR growth quarter since 2022.
Asked whether Australia’s performance was driven by the market or by share gains, David said the company believed it was “absolutely driven by market share gains.” She said the business has historically been strong in racing and is expanding focus to sports more broadly.
In other markets, David said Spain, Canada, Greece, Georgia, and New Zealand continued to deliver double-digit NGR growth. Snape said international online NGR was up 2%, with gaming up 8%, but noted a 1.4 percentage point year-on-year sports margin headwind due to tough margin comparisons and customer-friendly results, particularly in February. He said the adverse sports result impact was most pronounced in Brazil and Italy, though he highlighted “pleasing volume growth” in those markets, including double-digit volume growth in Italy.
On Brazil, David said Q1 sports margins were “very poor” but reiterated that “volume’s been up,” calling that “good news,” while also describing the sports margin performance as among the worst seen in the short term.
Snape also discussed the Entain CEE segment, describing it as “a story of sports results offsetting healthy volumes in Croatia,” where a -7.1 percentage point sports margin drag weighed on NGR growth. He said Poland benefited from migration to the CEE sportsbook and an app revamp.
US and BetMGM: executing for profitable growth David described the U.S. as “steadier than anticipated,” and referred to prior comments from Adam earlier in the week, stating that BetMGM continues to execute its plan for profitable growth while remaining “rational in a noisy market.” She said the disciplined approach supports confidence in delivering EBITDA within guidance, “albeit at the lower end,” despite softer top-line growth.
World Cup: modest revenue uplift, bigger recruitment opportunity Management repeatedly framed the upcoming World Cup (starting in June and extending into July) as a key commercial moment, but not a transformative earnings driver. Responding to an analyst question, David said the World Cup was likely worth “about 1% or something like that across the year” as an upside, while cautioning that margins could be volatile, particularly early in the tournament.
David said the event is more valuable as a customer acquisition and recruitment driver, particularly in time-zone-aligned markets and those with strong engagement such as Brazil, Australia, and New Zealand.
On retention and marketing efficiency, David said Entain uses detailed performance marketing analytics—led largely by the 365 Scores team—to evaluate “pay-ins, paybacks” and recruitment efficiency. Snape added that the discipline was among the most impressive aspects he had seen, emphasizing that the company aims not to “waste money” targeting customers who only bet during a tournament and then lapse. David said Entain would not “plaster” advertising broadly because it remains focused on payback for “every pound” spent.
Guidance reiterated; cash and cost discipline emphasized David said Entain is reiterating full-year guidance and remains confident in generating over GBP 500 million of cash annually from 2028. She said Q2 had started strongly and the business is “getting sharper every day” as it navigates U.K. tax increases.
Snape said that while the front end of the business is “delivering,” Entain sees “significant potential to optimize our cost base” to improve operational leverage and accelerate investment behind growth opportunities. He also said converting growth into cash is a core priority, alongside “deleveraging, and balance sheet flexibility,” signaling that capital investment and other actions will reflect that focus.
Entain executives said they plan to provide additional detail on priorities and plans at the company’s interim results in the summer.
About Entain (LON:ENT) Entain plc (LSE: ENT) is a FTSE100 company and is one of the world’s largest sports betting and gaming groups, operating both online and in the retail sector. The Group owns a comprehensive portfolio of established brands; Sports brands include BetCity, bwin, Coral, Crystalbet, Eurobet, Ladbrokes, Neds, Sportingbet, Sports Interaction, STS, SuperSport and TAB NZ; Gaming brands include Foxy Bingo, Gala, GiocoDigitale, Ninja Casino, Optibet, Partypoker and PartyCasino. The Group owns proprietary technology across all its core product verticals and in addition to its B2C operations provides services to a number of third-party customers on a B2B basis.
The Group has a 50/50 joint venture, BetMGM, a leader in sports betting and iGaming in the US.
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Vaultz Capital PLC (AQSE:V3TC, FRA:VJ2, OTCQB:VZTCF) said it raised £1 million to strengthen working capital and support a strategic refocus towards possible acquisitions in energy transition and the digital economy.
The Aquis-listed company issued new ordinary shares priced at 2.2p each, with Regent Resources Capital Corporation subscribing for the full amount.
The issue price was the prevailing bid price on 1 June and represented an approximate 8% discount to Vaultz’s 20-day volume-weighted average price.
Vaultz said the proceeds will be used to settle around £320,000 of outstanding trade creditors, provide working-capital headroom and fund transaction-related costs linked to its pipeline of acquisition opportunities.
The company said it is considering significant corporate transactions across strategic minerals, artificial intelligence and digital infrastructure.
Vaultz also plans to appoint Ian Burns as a non-executive director, subject to standard regulatory due diligence. Burns is founder and executive director of Via Executive Limited and managing director of Regent Mercantile Holdings Limited.
The company said it currently intends to substantially maintain its Bitcoin holding, though it would re-evaluate that treasury policy if it undertakes a significant transaction. Vaultz holds 134 Bitcoin, valued at about £7.3 million using a reference Bitcoin price of US$73,653 and a GBP/USD rate of 1.35.
After adjusting for the subscription proceeds and trade creditors, Vaultz estimated an unaudited net asset value following admission at around £8 million, equivalent to about 3.1p per ordinary share.
Entain PLC (LSE:ENT) shares climbed 3.4% to 582p on Tuesday after Deutsche Bank flagged that a proposed acquisition of MGM Resorts by People Inc, the renamed IAC, could have positive read-across implications for the FTSE 100 gambling group.
People Inc, chaired by media executive Barry Diller, has proposed a $48.30 per share cash offer for MGM Resorts International, the Las Vegas-based casino and hospitality giant.
This represents a premium of approximately 26% to MGM's share price on 26 May, before Fertitta Entertainment's separate bid for Caesars Entertainment injected fresh deal activity into the US gaming sector.
People Inc currently owns 26.1% of MGM and, on completion, would hold just over 50.1% of the company, giving it operational control.
Entain's connection to the MGM bid lies in BetMGM, the online sports betting and gaming joint venture the two companies operate together in the United States, one of the fastest-growing regulated gambling markets in the world.
Any change of control at MGM inevitably raises questions about the future structure and ownership of BetMGM, and Deutsche Bank argues the bid provides a degree of share price support for Entain given the potential for corporate activity to crystallise value in that partnership.
Deutsche's analyst Richard Stuber maintains a buy rating on Entain with a target price of 1,028p, implying significant upside from current levels.
Diller framed the MGM approach in strategic terms, arguing the casino group possesses physical assets that artificial intelligence cannot easily replicate and significant digital growth potential that People Inc believes it can help unlock.
The proposed deal remains at an early stage and is subject to board and regulatory approvals.
'Shaping Canada's Longevity Advantage' challenge will invite innovators to deliver solutions that strengthen health, financial resilience and social connection across longer lives
The challenge is an initiative of Manulife's Longevity Institute, driving Canadian solutions for a longer‑living society
, /PRNewswire/ - Manulife, in partnership with UpLink, the World Economic Forum's early-stage innovation initiative, and the Forum's Centre for Financial and Monetary Systems today announced the launch of a new innovation challenge, 'Shaping Canada's Longevity Advantage,' focused on enabling lifelong health, wealth and purpose across multistage lives.
Canadians are living longer, more complex lives, often balancing their own health and financial needs while supporting ageing parents or caregiving for others. Insights from the National Institute on Ageing's Ageing in Canada Survey, conducted by the NIA with support from Manulife, highlight the urgency of this challenge: 43 per cent of older Canadians are at high risk of social isolation, while only 29 per cent feel they can afford to retire. These realities underscore the need for practical, near-term solutions that help people live not just longer, but better, supported by stronger financial resilience, meaningful connections, and confidence across life stages. The 'Shaping Canada's Longevity Advantage' challenge invites innovators to deliver integrated solutions that create measurable improvements in critical areas impacting longevity in Canada.
The challenge will focus on innovations across three opportunity areas:
Financial resilience across life stages, including budgeting and saving tools designed for longer lifespans, AI-enabled financial planning solutions, modern retirement and care planning platforms, and financing solutions that support caregivers balancing work, family and care responsibilities. Healthy aging for all, including digitally enabled health navigation solutions, preventative health and wellness innovations that help delay or manage chronic illness, and tools and platforms that directly support caregivers in coordinating care and maintaining their own wellbeing. Purpose and connection, including digital, physical and nature-based spaces that foster social engagement, AI-supported platforms that reduce isolation, and intergenerational initiatives that strengthen community ties, belonging and shared purpose. Through this Canada-focused challenge, Manulife, UpLink and the Forum's Centre for Financial and Monetary Systems aim to surface and support solutions that respond to the realities of longer lives, helping individuals build resilience, stay connected, and maintain a sense of purpose at every stage.
This initiative is aligned to the Manulife Longevity Institute, a recently launched global research, thought leadership, innovation, advocacy, and community investment platform that will help people thrive at every age.
A call to strengthen Canada's approach to longevity
"Living longer should also mean living healthier—and Canadians need the right support to make that possible. As lifespans increase, people need help navigating care, preventing illness, and managing chronic conditions. Shaping Canada's Longevity Advantage reflects our commitment to giving Canadians the tools and confidence they need to live healthier lives at every stage."
- Naveed Irshad, President and CEO, Manulife Canada
"As Canadians live longer, financial planning is no longer about a single life stage, but a multi-decade journey with growing complexity. Financial resilience is becoming central to healthy longevity. Investing in innovators developing AI-enabled modern savings and planning tools, and caregiver support reinforces our commitment to offering advisors and plan sponsors the resources they need to help individuals secure their financial futures and live longer lives with confidence."
- Paul Lorentz, President and CEO, Manulife Wealth & Asset Management
"The longevity economy is emerging as a defining force shaping future growth and resilience. With Canada officially becoming a 'super-aged' country in 2026, the time to turn challenges into opportunities is now. Through our partnership with Manulife and the Forum's Centre for Financial and Monetary Systems, the Global Longevity Innovation Initiative strengthens the conditions needed to scale early-stage innovation and drive real-world impact that promotes healthy ageing, purpose, and financial resilience across generations."
- John Dutton, Head of UpLink, World Economic Forum
Challenge details
Full details and entry information can be found here.
The challenge is part of Manulife's broader, multiyear partnership with the World Economic Forum's UpLink initiative, reflecting a shared commitment to accelerating innovation in the longevity economy and supporting solutions that improve quality of life as people live longer. It also supports the World Economic Forum's broader efforts to address the demographic and financial realities of global ageing.
Shaping Canada's Longevity Advantage marks the third challenge in this partnership, building on successful challenges previously delivered in the United States and Asia. Together, the Manulife-powered UpLink challenges support a global ecosystem of innovators accelerating solutions across health, financial resilience and well-being, reflecting the company's commitment to driving global change through locally relevant, place-based solutions.
For more information on the Manulife Longevity Institute, visit Manulife.com/Longevity.
About Manulife
Manulife Financial Corporation is a leading international financial services provider, headquartered in Toronto, Canada. Anchored in our ambition to be the number one choice for customers, we operate as Manulife across Canada and Asia, and primarily as John Hancock in the United States, providing financial advice, insurance and health solutions for individuals, groups and businesses. Through Manulife Wealth & Asset Management, we offer global investment solutions, financial advice, and retirement plan services to individuals, institutions, and retirement plan members worldwide. At the end of 2025, we had more than 37,000 employees, over 106,000 agents, and thousands of distribution partners, serving over 37 million customers with operations across 25 markets globally. We trade as 'MFC' on the Toronto, New York, and Philippine stock exchanges, and under '945' on the Hong Kong stock exchange. Not all offerings are available in all jurisdictions. For additional information, please visit manulife.com.
About Manulife Longevity Institute
The Manulife Longevity Institute is a global research, thought leadership, innovation, advocacy, and community investment platform to drive action that can help people live longer, healthier, and more financially secure lives. Underpinned by a $350 million signature commitment, its focus is on helping people extend their healthy years, promoting greater financial resilience for all. As a global insurer, retirement plan provider, and asset manager, Manulife is uniquely placed to help lead this change. The Institute's work will support Manulife's Impact Agenda strategy by investing in organizations that are growing the longevity economy, convening research collaborations with leading academic institutions and think tanks, and producing thought leadership to advance awareness and action on the issues impacting populations as they age. The Institute will be known as the John Hancock Longevity Institute in the United States. The actions of the Institute will be guided by a Steering Committee of members of Manulife's Executive and Global Leadership Teams and in partnership with a robust ecosystem of partners and experts who champion longevity across Canada, Asia, and the US. Canada, Asia, and the US.
For more information, please visit Manulife.com/Longevity.
About UpLink
UpLink, the World Economic Forum's early-stage innovation engine, connects purpose-driven innovators with the partnerships, resources and capital they need to scale solutions for the markets and economies critical to a resilient, sustainable and prosperous world. UpLink envisions a future where profit and purpose go hand in hand — where innovation drives competitiveness, inclusion, and long-term value, where economic growth uplifts people while restoring the planet, and where resilience is the foundation of thriving, future-proof economies. For further information, click here.
, /PRNewswire/ - Manulife Financial Corporation will release its first quarter 2026 financial results after markets close on Wednesday, May 13, 2026, which will be made available at manulife.com/en/investors/results-and-reports.
A live webcast and conference call are scheduled for Thursday, May 14, 2026, at 8:00 a.m. (ET) where members of Manulife's executive leadership team will discuss the results, followed by a question and answer period with analysts.
To access the conference call, dial 1-888-317-6003 or 1-647-846-2809 (Passcode: 7290517#). Please call in 15 minutes prior to the scheduled start time.
The archived webcast will be available at manulife.com/en/investors/results-and-reports following the call. A replay of the call will also be available until August 14 2026, by dialing 1-855-669-9658 or 1-412-317-0088 (Passcode: 1809675#).
About Manulife
Manulife Financial Corporation is a leading international financial services provider, headquartered in Toronto, Canada. Anchored in our ambition to be the number one choice for customers, we operate as Manulife across Canada and Asia, and primarily as John Hancock in the United States, providing financial advice, insurance and health solutions for individuals, groups and businesses. Through Manulife Wealth & Asset Management, we offer global investment solutions, financial advice, and retirement plan services to individuals, institutions, and retirement plan members worldwide. At the end of 2025, we had more than 37,000 employees, over 106,000 agents, and thousands of distribution partners, serving over 37 million customers with operations across 25 markets globally. We trade as 'MFC' on the Toronto, New York, and Philippine stock exchanges, and under '945' on the Hong Kong stock exchange. Not all offerings are available in all jurisdictions. For additional information, please visit manulife.com.
Media Contact
Fiona McLean
Manulife
437-441-7491
[email protected]
At first, Intact Financial, Great-West Lifeco, Manulife, and Sun Life look like they belong in the same bucket. But when digging deeper, there are differences to consider. These four insurers don't grow the same way, they don't take the same risks, and they won't appeal to the same type of investor. These four all offer respectable income, but the better question is this: which business do you want to own for the next decade?
Cwm LLC cut its holdings in shares of Manulife Financial Corp (NYSE:MFC – Free Report) (TSE:MFC) by 24.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 70,420 shares of the financial services provider’s stock after selling 22,772 shares during the period. Cwm LLC’s holdings in Manulife Financial were worth $2,555,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Root Financial Partners LLC bought a new stake in Manulife Financial during the third quarter worth $25,000. Wolff Wiese Magana LLC grew its position in Manulife Financial by 269.2% in the fourth quarter. Wolff Wiese Magana LLC now owns 960 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 700 shares during the last quarter. American Wealth Advisors LLC bought a new position in Manulife Financial in the third quarter valued at about $36,000. Steigerwald Gordon & Koch Inc. grew its position in Manulife Financial by 208.8% in the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 1,022 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 691 shares during the last quarter. Finally, Clearstead Trust LLC grew its position in Manulife Financial by 144.4% in the third quarter. Clearstead Trust LLC now owns 1,256 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 742 shares during the last quarter. 52.56% of the stock is currently owned by institutional investors.
Manulife Financial Price Performance Shares of NYSE MFC opened at $38.74 on Friday. The company has a 50 day simple moving average of $35.62 and a 200 day simple moving average of $35.36. The firm has a market cap of $64.77 billion, a PE ratio of 17.45 and a beta of 0.82. Manulife Financial Corp has a 1 year low of $29.70 and a 1 year high of $39.22.
Manulife Financial (NYSE:MFC – Get Free Report) (TSE:MFC) last issued its quarterly earnings data on Wednesday, February 11th. The financial services provider reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.04. Manulife Financial had a net margin of 9.18% and a return on equity of 16.43%. The company had revenue of $11.32 billion for the quarter, compared to analysts’ expectations of $2.32 billion. During the same quarter in the previous year, the firm posted $1.03 earnings per share. As a group, research analysts anticipate that Manulife Financial Corp will post 3.22 earnings per share for the current fiscal year.
Manulife Financial Increases Dividend The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Wednesday, February 25th were given a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 5.0%. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.44. The ex-dividend date was Wednesday, February 25th. Manulife Financial’s dividend payout ratio is 63.96%.
Analysts Set New Price Targets MFC has been the topic of a number of recent analyst reports. Weiss Ratings cut Manulife Financial from a “buy (a-)” rating to a “buy (b)” rating in a research report on Friday, February 13th. Royal Bank Of Canada reissued an “outperform” rating on shares of Manulife Financial in a research note on Friday, February 13th. Canadian Imperial Bank of Commerce raised shares of Manulife Financial from a “neutral” rating to an “outperform” rating in a research note on Thursday, January 8th. Finally, Scotiabank reissued an “outperform” rating on shares of Manulife Financial in a research note on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $51.50.
Get Our Latest Analysis on Manulife Financial
Manulife Financial Profile (Free Report)
Manulife Financial Corporation is a multinational insurance and financial services company headquartered in Toronto, Ontario. Founded in the late 19th century as The Manufacturers Life Insurance Company, Manulife provides a broad range of financial products and services to individual and institutional clients. Its core businesses include life and health insurance, retirement and pension solutions, wealth and asset management, and group benefits.
In wealth and asset management, Manulife operates through Manulife Investment Management and offers mutual funds, segregated funds, institutional asset management, and retirement plan solutions.
Recommended Stories Five stocks we like better than Manulife Financial Want to see what other hedge funds are holding MFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Manulife Financial Corp (NYSE:MFC – Free Report) (TSE:MFC).
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Toronto, Ontario--(Newsfile Corp. - May 1, 2026) - Jordy Chilcott, Head of Retail Intermediary Distribution, Canada, Co-President and Co-Chief Executive Officer, Manulife Investment Management Limited ("Manulife" or the "Company") and his team, joined Keith Wu, Head, Exchange Traded Products, Toronto Stock Exchange ("TSX"), to close the market and celebrate the launch of the their Manulife All-in-One ETFs:
The Manulife All-in-One ETFs feature actively managed asset allocation with exposure across 15 equity and fixed income asset classes.
As part of Manulife Financial Corporation, Manulife Wealth & Asset Management's mission is to make decisions easier and lives better by helping people invest confidently to pursue a more secure financial future. Their strength comes from the diversity of their global asset management expertise and distribution capabilities. Their global investment teams span equities, fixed income, alternative credit, private markets, and multi-asset solutions. They provide investment, financial advice, and retirement plan services to millions of individuals, institutions, and retirement plan members worldwide. At the heart of their approach are three cultural pillars: Partner for Progress, Trust through Transparency, and Intellectual Curiosity. These values shape how they build long-term relationships, develop differentiated investment strategies, and empower advisors and clients to seek meaningful financial outcomes. Whether through cutting-edge technology, AI innovation, personalized advice, or sustainable stewardship, Manulife Wealth & Asset Management is a trusted partner helping clients navigate complexity and invest with confidence.
For additional information, please visit manulifeim.com.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/295560
Source: Toronto Stock Exchange
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With decades of combined industry experience, Robert Carney and Jennifer Ortale join John Hancock, reinforcing its commitment to superior distribution and growth BOSTON, May 4, 2026 /PRNewswire/ - John Hancock today announced the appointments of Robert Carney as Head of Insurance Sales and Distribution and Jennifer Ortale as Head of Executive Benefits. "Bringing these leaders on reflects our unwavering commitment to our third‑party distribution model and our continued investment in strong leadership that supports our sales partners," said Hector Martinez, Head of Insurance at John Hancock.
Manulife's inaugural global Impact Week brings longevity commitment to life through social connection and purpose-driven community action
Thousands of colleagues mobilized in support of local charities, exemplifying Manulife's strong winning team and culture
, /PRNewswire/ - Manulife hosted its inaugural Impact Week, a volunteer initiative designed to strengthen well-being, build social connection, and unite teams through purpose-driven community action.
Pragashini Fox, Manulife's Chief People Officer, and colleagues volunteering at Anishnabeg Outreach in Kitchener, On. (CNW Group/Manulife Financial Corporation)
Naveed Irshad, President and CEO, Manulife Canada, and colleagues at Toronto’s Yonge Street Mission (YSM). (CNW Group/Manulife Financial Corporation)
Colleague volunteering at a local food bank in Toronto. (CNW Group/Manulife Financial Corporation)
Manulife’s President and CEO Phil Witherington joins Toronto middle school students for a conversation about financial literacy. (CNW Group/Manulife Financial Corporation)
Manulife’s President and CEO Phil Witherington joins Toronto middle school students for a conversation about financial literacy. (CNW Group/Manulife Financial Corporation)
Manulife colleagues in Japan take part in a river clean-up effort. (CNW Group/Manulife Financial Corporation)
Colleagues volunteering at the Nova Scotia SPCA in Dartmouth. (CNW Group/Manulife Financial Corporation)
John Hancock colleagues supporting Cradles for Crayons in Boston. (CNW Group/Manulife Financial Corporation)
From April 27 to May 1 in North America, and April 27 to May 8 across Asia, colleagues mobilized to support community partners focused on health and well-being, financial resilience, food security, education and additional causes linked to longevity. Manulife offers its 37,000 colleagues an annual paid Volunteer Day benefit, and Impact Week provided a globally-aligned opportunity for colleagues to use that benefit and volunteer together.
"We have a long history of community stewardship at Manulife, and Impact Week reflects our continued commitment to our communities around the world," said Phil Witherington, President and CEO, Manulife. "Strengthening our winning team and culture and empowering health, wealth, and longevity are two of our strategic priorities, and volunteering is a powerful way to advance both, by deepening connection, building belonging, and turning our values into action. I'm proud of Team Manulife this week for getting outside with one another and capturing the scale of our global footprint to make a real difference."
Results and Highlights from Impact Week 2026
During Impact Week:
21,724 volunteer hours were logged globally, with community impact continuing beyond the week 234 volunteer activities were completed across 22 communities Volunteering: A Longevity Driver
Impact Week reflects Manulife's commitment to longevity, translating insights on connection and purpose into real‑world impact while reinforcing the role volunteering plays in well-being and quality of life. Research shows positive effects of volunteering include:
Longer, healthier lives, including lower blood pressure, improved physical health and reduced mortalityi. Better mental health, with increased purpose and connection and reduced stress, anxiety and depressionii. Stronger cognitive health, including slower cognitive decline and improved social connectioniii. "Longevity isn't only influenced by physical and financial well-being — it's shaped by how we live and connect," said Karen Leggett, Global Chief Marketing Officer, Manulife. "Volunteering builds purpose, social connection, and resilience — factors linked to longer, healthier lives. Impact Week gives our colleagues the opportunity to serve our communities while also investing in their own longevity."
Manulife Colleagues Driving Global Impact Through Local Action
A hallmark of Impact Week was its flexibility, which helped strengthen connection across teams, bringing colleagues together around shared purpose and reinforcing a culture of inclusion. Alongside curated volunteer opportunities, teams designed their own initiatives through Team Grants, which enabled groups of 10 or more to support non-profit partners with funding and hands‑on effort.
"Impact Week created space for colleagues to have dedicated time to come together and make a difference in their communities," said Pragashini Fox, Chief People Officer, Manulife. "By offering a global Volunteer Day and empowering teams to lead local initiatives, we're strengthening connection, belonging, and a shared sense of purpose across Manulife. When colleagues come together in service, it builds the connections that underpin strong, inclusive teams."
Manulife's Legacy of Community Stewardship
Impact Week continues a long tradition of community involvement at Manulife. Since 1888, when the company donated its first ambulance to help improve community health, Manulife has continued to evolve how it contributes to stronger communities, recognizing that wellbeing includes not only physical health, but also the purpose and connection that come from showing up for others.
Impact Week aligns closely with the work of the Manulife Longevity Institute, a global research, thought leadership, innovation, advocacy, and community investment platform that will help people thrive at every age. Learn more about Manulife's Longevity research and insights at: Manulife.com/longevity.
About Manulife
Manulife Financial Corporation is a leading international financial services provider, headquartered in Toronto, Canada. Anchored in our ambition to be the number one choice for customers, we operate as Manulife across Canada and Asia, and primarily as John Hancock in the United States, providing financial advice, insurance and health solutions for individuals, groups and businesses. Through Manulife Wealth & Asset Management, we offer global investment solutions, financial advice, and retirement plan services to individuals, institutions, and retirement plan members worldwide. At the end of 2025, we had more than 37,000 employees, over 106,000 agents, and thousands of distribution partners, serving over 37 million customers with operations across 25 markets globally. We trade as 'MFC' on the Toronto, New York, and Philippine stock exchanges, and under '945' on the Hong Kong stock exchange. Not all offerings are available in all jurisdictions. For additional information, please visit manulife.com.
About Manulife Longevity Institute
The Manulife Longevity Institute is a global research, thought leadership, innovation, advocacy, and community investment platform to drive action that can help people live longer, healthier, and more financially secure lives. Underpinned by a $350 million signature commitment, its focus is on helping people extend their healthy years, promoting greater financial resilience for all. As a global insurer, retirement plan provider, and asset manager, Manulife is uniquely placed to help lead this change. The Institute's work will support Manulife's Impact Agenda strategy by investing in organizations that are growing the longevity economy, convening research collaborations with leading academic institutions and think tanks, and producing thought leadership to advance awareness and action on the issues impacting populations as they age. The Institute will be known as the John Hancock Longevity Institute in the United States. The actions of the Institute will be guided by a Steering Committee of members of Manulife's Executive and Global Leadership Teams and in partnership with a robust ecosystem of partners and experts who champion longevity across Canada, Asia, and the US. Canada, Asia, and the US.
For more information, please visit Manulife.com/Longevity.
Media contact
Manulife:
Emily English
[email protected]
647-544-2800
, /PRNewswire/ - Manulife today released its 2025 Sustainability Report and its 2025 Public Accountability Statement, detailing its approach, performance, and achievements relative to its sustainability strategy.
Highlights from the firm's 2025 Sustainability Report that support Manulife's Impact Agenda to empower health and well-being, support financial resilience, and contribute to a healthier planet include the followingi:
Launched the Manulife Longevity Institute to advance research, thought leadership, innovation, advocacy, and community partnerships focused on longevity, committing $350 million through 2030 to help people live longer, healthier, and more financially secure lives. Supported communities through paid volunteer time, company matching, and Manulife's global Impact Hub. In 2025, employees contributed more than 49,000 volunteer hours across 18 countries, and employee giving reached $8.8 million. Launched the inaugural Longevity Preparedness Index in collaboration with the MIT AgeLab, establishing new benchmarks for how US adults prepare for longer lives. These insights will inform how we support customers across eight dimensions of longevity preparedness. Released findings from our 2025 Asia Care Survey, highlighting that people across Asia are increasingly prioritizing quality of life, financial independence, and aging with dignity as life expectancy rises. Established Manulife Impact Forests, a global network of restoration sites supporting climate resilience, biodiversity, and community benefits. The initiative now spans five countries and has restored more than 160 hectares of land. Became the first life and health insurer to support a national nature prescription program, helping expand PaRx, the BC Parks Foundation's globally recognized initiative. Through this partnership, over 4,000 healthcare professionals will prescribe time in nature, connecting over 670,000 participants with improved health and well-being. Ran the Innovating for Asia's Demographic Future Challenge with Uplink and the Centre for Financial and Monetary Systems, selecting ten standout ventures with scalable solutions that support healthier, longer lives across Asia. Of these, three top innovators received a combined $200,000 in prize funding to accelerate their impact. Supported Rock the Street, Wall Street to help close the gender gap in financial literacy by reaching more than 200 high school students across Toronto, Boston, and London through workshops and mentorship, supported by 38 Manulife volunteers. Announced a multi‑year commitment to Ownership Works, supporting its efforts to expand employee share ownership programs that promote inclusive economic opportunity and strengthen financial wellness and literacy. "Empowering health, wealth, and longevity is central to Manulife's strategy. It aligns with our values and our commitment to the communities where we operate. As a global life insurer and asset manager, we are uniquely placed to help individuals and families navigate the growing gap between lifespan and healthspan," said Brian Kernohan, Chief Sustainability Officer, Manulife Investment Management, and Acting Global Chief Sustainability Officer, Manulife. "In 2025, Manulife took meaningful steps to help people live longer, healthier, and more financially secure. This progress was made possible through new and expanded community investments, continued colleague initiatives, and focused actions that strengthen our ability to deliver on our priorities."
Please visit manulife.com/sustainability to access the reports and learn more about the firm's Impact Agenda.
About Manulife
Manulife Financial Corporation is a leading international financial services provider, headquartered in Toronto, Canada. Anchored in our ambition to be the number one choice for customers, we operate as Manulife across Canada and Asia, and primarily as John Hancock in the United States, providing financial advice, insurance and health solutions for individuals, groups and businesses. Through Manulife Wealth & Asset Management, we offer global investment solutions, financial advice, and retirement plan services to individuals, institutions, and retirement plan members worldwide. At the end of 2025, we had more than 37,000 employees, over 106,000 agents, and thousands of distribution partners, serving over 37 million customers with operations across 25 markets globally. We trade as 'MFC' on the Toronto, New York, and Philippine stock exchanges, and under '945' on the Hong Kong stock exchange. Not all offerings are available in all jurisdictions. For additional information, please visit manulife.com.
i Please see our Sustainability Report for further details about our performance metrics, including the methodology for calculating and defining green investments.
, /PRNewswire/ - Manulife Financial Corporation ("Manulife" or the "Company") reported its first quarter results for the period ended March 31, 2026, delivering double-digit core EPS and new business CSM growth year over year.
Key highlights for the first quarter of 2026 ("1Q26") include:
Core earnings1 of $1.8 billion, up 8% on a CER basis2 compared with the first quarter of 2025 ("1Q25") Net income attributed to shareholders of $1.1 billion, up $0.7 billion from 1Q25 Core EPS3 of $1.06, up 11%2 from 1Q25. EPS of $0.65, up 178%2 from 1Q25 Core ROE3 of 16.5% and ROE of 10.1% LICAT ratio4 of 136% APE sales up 7%5, new business CSM up 16%2 and new business value ("NBV") up 7%5 from 1Q25 Global Wealth and Asset Management ("Global WAM") net outflows5 of $4.4 billion, compared with $0.5 billion of net inflows in 1Q25 "We delivered a solid first quarter, executing our strategy and demonstrating the strength of our diversified portfolio. We generated double-digit growth in core EPS, and new business momentum continued to build, driving double-digit growth in new business CSM across all three insurance segments, despite macroeconomic uncertainty.
"Asia achieved another strong quarter, with 22% growth in core earnings and 15% growth in new business value, reflecting robust contributions from key markets in the region. In Global WAM, core EBITDA margin3 improved year over year, notwithstanding the impact of the eMPF transition, and Manulife | Comvest contributed positively to margin, core earnings and net inflows.
"We made sustained progress against our strategic priorities — expanding our health proposition with new partnerships in Asia and Canada, advancing Global WAM through our partnership with L&G6, and further differentiating our U.S. product offerings. We scaled AI delivery across our global footprint to enhance distributor experience and improve productivity and efficiency. We remain well positioned to deliver our targets and capture growth, generating sustainable value for shareholders."7
— Phil Witherington, Manulife President & Chief Executive Officer
"Our balance sheet and financial performance demonstrated resilience during a volatile quarter. Excess capital remained strong, our financial leverage ratio improved, and book value per common share increased to an all-time high8. We continued to deploy capital in a disciplined manner, returning $1.2 billion to shareholders through dividends and share buybacks, and on the acquisition of Schroders Indonesia. Core ROE was 16.5% for the quarter, an increase of 90 basis points compared with 1Q25, and our expense efficiency ratio of 46%3 remained in-line year over year, while continuing strategic investments in AI and reflecting the impact of the Comvest acquisition in Global WAM."
— Colin Simpson, Manulife Chief Financial Officer
Results at a Glance
($ millions, unless otherwise stated)
Quarterly Results
1Q26
1Q25
Change2,5
Net income attributed to shareholders
$ 1,147
$ 485
149 %
Core earnings
$ 1,836
$ 1,767
8 %
EPS ($)
$ 0.65
$ 0.25
178 %
Core EPS ($)
$ 1.06
$ 0.99
11 %
ROE
10.1 %
3.9 %
6.2 pps
Core ROE
16.5 %
15.6 %
0.9 pps
Book value per common share ($)
$ 26.30
$ 25.88
2 %
Adjusted BV per common share ($)3
$ 39.01
$ 36.66
6 %
Financial leverage ratio (%)3
22.5 %
23.9 %
(1.4) pps
APE sales
$ 2,821
$ 2,689
7 %
New business CSM
$ 1,019
$ 907
16 %
NBV
$ 944
$ 907
7 %
Global WAM net flows ($ billions)
$ (4.4)
$ 0.5
- %
Results by Segment
($ millions, unless otherwise stated)
Quarterly Results
1Q26
1Q25
Change5
Asia (US$)
Net income attributed to shareholders
$ 433
$ 435
2 %
Core earnings
598
492
22 %
APE sales
1,599
1,412
11 %
New business CSM
585
498
15 %
NBV
533
457
15 %
Canada
Net income attributed to shareholders
$ 238
$ 222
7 %
Core earnings
352
374
(6) %
APE sales
416
491
(15) %
New business CSM
103
91
13 %
NBV
152
180
(16) %
U.S. (US$)
Net income attributed to shareholders
$ 101
$ (397)
- %
Core earnings
241
251
(4) %
APE sales
155
120
29 %
New business CSM
83
70
19 %
NBV
44
48
(8) %
Global WAM
Net income attributed to shareholders
$ 403
$ 443
(5) %
Core earnings
448
454
2 %
Gross flows ($ billions)5
56.0
50.3
15 %
Average AUMA ($ billions)5
1,118
1,041
11 %
Core EBITDA margin (%)
29.0 %
28.4 %
60 bps
Strategic Highlights
We are executing to expand our diversified portfolio and further strengthen distribution capabilities and product leadership
In Asia, we received recognition as Asia's Best Insurance Provider for Wealth Management at the 2026 Euromoney Private Banking Awards, a leading benchmark in the private banking and wealth management industry. This acknowledgement reflects our strong growth momentum, innovative product suite for high-net-worth ("HNW") customer segments, value-added service, international capabilities, and trusted relationships with our distribution partners across all HNW channels.
In Global WAM, we completed the acquisition of PT Schroder Investment Management Indonesia ("Schroders Indonesia") with $3.5 billion of assets under management ("AUM") as of March 31, 2026. The acquisition strengthens our position as the largest asset manager in Indonesia9 and enables us to deliver enhanced value to our clients and stakeholders by leveraging the firm's local expertise and client relationships.
In addition, we entered into a strategic partnership with L&G6 to enhance our distribution, investment management, and product development capabilities. The partnership is intended to combine our global asset management expertise and distribution platform with L&G's strengths as a global asset manager and distribution capabilities, especially across Europe, bringing together complementary capabilities to expand access to differentiated investment solutions across institutional, retirement, and retail channels.
In the U.S., we further differentiated our product portfolio through enhancements to our indexed and hybrid indexed universal life offerings, better positioning us to address evolving income-protection and wealth-accumulation needs and supporting our growth strategy. Furthermore, we reinforced our industry-leading large-case underwriting capabilities by increasing auto-bind limits through reinsurer support, simplifying underwriting and reducing friction for complex submissions.
We are deploying AI globally to enhance distributor experience, drive efficiency, and deliver value
We accelerated our momentum across our enterprise AI platform, establishing production‑ready environments and enabling initial scalable use cases, while leveraging new strategic partnerships with Akka10 and Adaptive ML11. In addition, our developers across the organization continued to adopt assisted and autonomous AI capabilities, increasing their productivity by 30% while enabling reinvestment to support business growth and develop new capabilities to serve our customers. Together, we expect these advancements will enhance our ability to deploy AI at scale with speed, consistency, and in alignment with our Responsible AI Principles.
Building on the roll out of agent and advisor AI tools in a number of our Asia markets in 2025, we launched our distributor AI tool in Vietnam to support faster access to product information, premium calculations and simplified illustrations for customers. In Japan, we also enhanced our AI tool to provide a unified, always-available entry point to information about our independent agents, including their affiliations, branch details, and product license eligibility, enabling us to provide better and faster support to these agents.
In Global WAM, we introduced an AI‑powered sales platform in U.S. Retail to better integrate data, enabling more personalized advisor conversations and smarter sales deployment. This platform allows sales teams to prioritize the most promising opportunities, driving an approximately 40% increase in meaningful advisor interactions and supporting higher flows.
In the U.S., we continued to realize benefits from scaling GenAI investments in underwriting through the expansion of our Quick Quote support tool, enabling us to automate nearly half of preliminary assessments, which accelerated average turnaround time from days to minutes and enabled underwriters to focus on more complex cases.
In Canada, we enhanced online claims processing for our Affinity health & dental business through AI-driven document processing for the majority of manually processed claims, which improved processing speed and accelerated payments to customers.
We are advancing our health, wealth and longevity strategy while establishing new strategic partnerships
In Asia, we established an exclusive partnership with Guardant Health to offer the Shield™ Multi‑Cancer Detection test ("Shield MCD test")12 to eligible customers in Hong Kong, Singapore, and the Philippines. The collaboration makes us the first insurer in Asia to offer the Shield MCD test, broadening access to early cancer detection and advancing our commitment to improving customer health outcomes and longevity.
In Canada, we partnered with Osara Health®, a global provider of evidence-based cancer support programs to pilot the Cancer Coach™ program and offer eligible Group Benefits members structured and personalized support for navigating the daily challenges that accompany a cancer diagnosis, treatment, and recovery.
We also advanced Manulife's commitment to longevity through a partnership with the National Institute on Ageing, supporting the release of the Ageing in Canada Survey, one of Canada's most comprehensive annual snapshots of aging, and building on our commitment to health, wealth and financial wellbeing.
In the U.S., we launched John Hancock Vitality PRO, a distributor-facing engagement platform designed to support the promotion of John Hancock Vitality and to enhance producer loyalty. Early adoption continues to build, reinforcing engagement in John Hancock Vitality and our mission to help customers live longer, healthier, better lives.
Continued business growth drove core earnings higher13
Core earnings of $1.8 billion in 1Q26, up 8% from 1Q25
The increase in core earnings reflected strong business growth in Asia and Global WAM, the net positive impact of 2025 updates to actuarial methods and assumptions, and a net improvement in insurance experience, partially offset by lower investment spreads in the U.S. and the impact of the eMPF transition in Hong Kong.
Asia core earnings increased 22%, reflecting continued business growth and the net positive impact of 2025 updates to actuarial methods and assumptions, partially offset by less favourable insurance experience. Global WAM core earnings increased 2%, driven by higher net fee income from favourable market impacts over the past 12 months, contribution from the Manulife | Comvest business, and continued expense discipline, partially offset by the impact of the eMPF transition in Hong Kong and lower performance fees. Canada core earnings decreased 6%, reflecting unfavourable insurance experience in Group Insurance in 1Q26, compared with favourable experience in 1Q25. The variance in insurance experience was largely driven by higher long-term disability claims, along with higher expenses to support the growing business and transformational investment to elevate customer experience in Group Insurance. This was partially offset by business growth in the segment, the net positive impact of 2025 updates to actuarial methods and assumptions, and a lower charge in the expected credit loss provision. U.S. core earnings decreased 4%, primarily driven by lower investment spreads, partially offset by favourable net insurance experience in 1Q26 compared with unfavourable experience in 1Q25. Corporate and Other core earnings improved by $12 million, reflecting the non-recurrence of the 1Q25 provision for the California wildfires in our P&C reinsurance business, partially offset by lower investment income and higher expenses from continued strategic investments in transformational efforts, including AI-focused initiatives. Net Income attributed to shareholders of $1.1 billion in 1Q26, $0.7 billion higher compared with 1Q25
The $0.7 billion increase in net income was primarily driven by a smaller net charge related to market experience and core earnings growth. The net charge from market experience in 1Q26 reflected lower-than-expected returns on public equity and lower-than-expected returns on alternative long-duration assets, mainly related to real estate, timber, and private equity investments. The market experience in 1Q25 included a $0.7 billion realized loss related to the RGA U.S. Reinsurance Transaction from the sale of debt instruments, which was offset by an associated change in Other Comprehensive Income with a net neutral impact to book value.14
Insurance new business growth momentum continued, with a double-digit increase in new business CSM across all segments
APE sales, new business CSM and NBV increased 7%, 16%, and 7%, respectively, reflecting the strength of our diversified business portfolio
Asia delivered strong growth in APE sales, new business CSM and NBV, with a year-over-year increase of 11%, 15% and 15%, respectively, driven by higher sales volumes and a more favourable business mix, reflecting growth in Hong Kong, Japan and Singapore across all three new business metrics. NBV margin improved modestly to 38.2%.5 Canada APE sales and NBV decreased 15% and 16%, respectively, driven by lower Group Insurance sales, partially offset by higher Individual Insurance sales. New business CSM increased 13%, reflecting the growth in Individual Insurance from higher participating life insurance sales. In the U.S., APE sales and new business CSM increased 29% and 19%, respectively, reflecting increased demand for our accumulation insurance products supported by recent product enhancements. NBV decreased 8%, primarily driven by product mix, partially offset by higher sales volumes. Global WAM net outflows of $4.4 billion in 1Q26, compared with net inflows of $0.5 billion in 1Q25
Retirement net outflows were $2.8 billion in 1Q26 compared with net outflows of $2.6 billion in 1Q25, driven by higher member withdrawals reflecting higher account balances from market growth and higher retirement plan redemptions in the U.S., partially offset by lower retirement plan redemptions in Canada. Retail net outflows were $5.8 billion in 1Q26 compared with net inflows of $0.5 billion in 1Q25, primarily driven by higher net outflows in active mutual funds through third-party intermediaries in North America, including a few large model redemptions in the U.S. Institutional Asset Management net inflows were $4.2 billion in 1Q26 compared with net inflows of $2.6 billion in 1Q25, driven by net flows from the Manulife | Comvest business, and higher net sales from money market mandates in mainland China and from Manulife | CQS products, partially offset by lower net flows in equity mandates and lower deployments in private equity mandates. New business growth continued to drive higher organic CSM and CSM balance
CSM15 was $25,589 million as at March 31, 2026
CSM increased $620 million compared with December 31, 2025. Organic CSM movement contributed $650 million of the increase, representing an 11% annualized growth in our CSM net of NCI balance16, primarily driven by the impact of new business, interest accretion and net favourable insurance experience, partially offset by amortization recognized in core earnings. Inorganic CSM movement was a decrease of $30 million, primarily driven by the unfavourable impacts of equity market performance and interest rate movements, partially offset by the impacts of changes in foreign currency exchange rates. Post-tax CSM net of NCI1 was $21,255 million as at March 31, 2026.
___________________________
(1)
Core earnings and post-tax contractual service margin net of NCI ("post-tax CSM net of NCI") are non-GAAP financial measures. For more information on non-GAAP and other financial measures, see "Non-GAAP and other financial measures" below and in our 1Q26 Management's Discussion and Analysis ("1Q26 MD&A").
(2)
Percentage growth/declines in core earnings, diluted core earnings per common share ("core EPS"), diluted earnings (loss) per share ("EPS"), new business contractual service margin net of NCI ("new business CSM"), and net income attributed to shareholders are stated on a constant exchange rate ("CER") basis and are non-GAAP ratios.
(3)
Core EPS, core ROE, core EBITDA margin, expense efficiency ratio, adjusted book value per common share ("adjusted BV per common share"), and financial leverage ratio are non-GAAP ratios.
(4)
Life Insurance Capital Adequacy Test ("LICAT") ratio of The Manufacturers Life Insurance Company ("MLI") as at March 31, 2026. LICAT ratio is disclosed under the Office of the Superintendent of Financial Institutions ("OSFI's") Life Insurance Capital Adequacy Test Public Disclosure Requirements guideline.
(5)
For more information on annualized premium equivalent ("APE") sales, new business value ("NBV"), net flows, gross flows, average asset under management and administration ("average AUMA") and new business value margin ("NBV margin"), see "Non-GAAP and other financial measures" below. In this news release, percentage growth/decline in APE sales, NBV, net flows, gross flows, and average AUMA are stated on a constant exchange rate basis.
(6)
Legal & General Investment Management Limited and Legal and General Assurance Society, collectively referred to as "L&G".
(7)
See "Caution regarding forward-looking statements" below.
(8)
Under IFRS 17.
(9)
Based on AUM as of February 2026.
(10)
Akka provides a secure and scalable software foundation to build trusted AI-powered business applications.
(11)
Adaptive ML provides a reinforcement-learning-powered engine to fine-tune, evaluate, and deploy open-source small language models (SLMs) for enterprise applications.
(12)
The Shield MCD test is intended to detect 10 cancers with a single blood draw, and is for export use only outside of the United States.
(13)
See section A1 "Profitability" in our 1Q26 MD&A for more information on notable items attributable to core earnings and net income attributed to shareholders.
(14)
The reinsurance transaction with the Reinsurance Group of America, Incorporated ("RGA U.S. Reinsurance Transaction") closed January 1, 2025.
(15)
Net of non-controlling interests ("NCI").
(16)
Percentage growth / decline in our CSM net of NCI balance from organic CSM movement is stated on a constant exchange rate basis and is a non-GAAP ratio. This percentage is calculated as the annualized year-to-date change in organic CSM net of NCI divided by the December 31, 2025 CSM net of NCI balance.
Earnings Results Conference Call
Manulife will host a conference call and live webcast on its First Quarter 2026 results on May 14, 2026, at 8:00 a.m. (ET). To access the conference call, dial 1-888-317-6003 or 1-647-846-2809 (Passcode: 7290517#). Please call in 15 minutes before the scheduled start time. You will be required to provide your name and organization to the operator. You may access the webcast at https://www.manulife.com/en/investors/results-and-reports.
The archived webcast will be available following the call at the same URL as above. A replay of the call will also be available until August 14, 2026, by dialing 1-855-669-9658 or 1-412-317-0088 (Passcode: 1809675#).
The First Quarter 2026 Statistical Information Package is also available on the Manulife website at https://www.manulife.com/en/investors/results-and-reports.
This earnings news release should be read in conjunction with the Company's First Quarter 2026 Report to Shareholders, including our unaudited interim Consolidated Financial Statements for the three months ended March 31, 2026, prepared in accordance with International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board, which is available on our website at https://www.manulife.com/en/investors/results-and-reports. The Company's 1Q26 MD&A and additional information relating to the Company is available on the SEDAR+ website at https://www.sedarplus.ca and on the U.S. Securities and Exchange Commission's ("SEC") website at https://www.sec.gov.
Any information contained in, or otherwise accessible through, websites mentioned in this news release does not form a part of this document unless it is expressly incorporated by reference.
Media Inquiries
Investor Relations
Fiona McLean
Derek Theobalds
(437) 441-7491
(416) 254-1774
[email protected]
[email protected]
Earnings
The following table presents net income attributed to shareholders, consisting of core earnings and details of the items excluded from core earnings:
Quarterly Results
($ millions)
1Q26
4Q25
1Q25
Core earnings
Asia
$ 820
$ 785
$ 705
Canada
352
413
374
U.S.
331
319
361
Global Wealth and Asset Management
448
490
454
Corporate and Other
(115)
(14)
(127)
Total core earnings
$ 1,836
$ 1,993
$ 1,767
Items excluded from core earnings
Market experience gains (losses)
(666)
(441)
(1,332)
Change in actuarial methods and assumptions that flow directly through income
-
-
-
Restructuring charge
-
(12)
-
Amortization of acquisition-related intangible assets(1)
(18)
(12)
-
Reinsurance transactions, tax-related items and other
(5)
(29)
50
Net income attributed to shareholders
$ 1,147
$ 1,499
$ 485
(1)
Includes the amortization of intangible assets acquired in a business combination, except for amortization of software and distribution agreements. This item is excluded from core earnings commencing in 3Q25. Prior periods have not been restated as these amounts are not considered material, and use the definition of core earnings in effect for those periods. See our definition of core earnings in section E3 "Non-GAAP and Other Financial Measures" of the 1Q26 MD&A.
Non-GAAP and other financial measures
The Company prepares its Consolidated Financial Statements in accordance with IFRS as issued by the International Accounting Standards Board. We use a number of non-GAAP and other financial measures to evaluate overall performance and to assess each of our businesses. This section includes information required by National Instrument 52-112 – Non-GAAP and Other Financial Measures Disclosure in respect of "specified financial measures" (as defined therein).
Non-GAAP financial measures include core earnings (loss); core earnings available to common shareholders; core earnings before interest, taxes, depreciation and amortization ("core EBITDA"); core expenses; adjusted book value; post-tax contractual service margin; post-tax contractual service margin net of NCI ("post-tax CSM net of NCI"); CSM net of NCI; assets under management ("AUM"); and core revenue. In addition, non-GAAP financial measures include the following stated on a constant exchange rate ("CER") basis: any of the foregoing non-GAAP financial measures; net income attributed to shareholders; and common shareholders' net income.
Non-GAAP ratios include core return on common shareholders' equity ("core ROE"); diluted core earnings per common share ("core EPS"); expense efficiency ratio; adjusted book value per common share; financial leverage ratio; core EBITDA margin; growth in the CSM net of NCI from organic CSM movement; and percentage growth/decline on a constant exchange rate basis in any of the above non-GAAP financial measures and non-GAAP ratios; net income attributed to shareholders; diluted earnings per common share ("EPS"), CSM, and new business CSM.
Other specified financial measures include NBV; APE sales; gross flows; net flows; average assets under management and administration ("average AUMA"); NBV margin; and percentage growth/decline in these foregoing specified financial measures. In addition, explanations of the components of the CSM movement, other than new business CSM are provided in our 1Q26 MD&A.
Non-GAAP financial measures and non-GAAP ratios are not standardized financial measures under GAAP and, therefore, might not be comparable to similar financial measures disclosed by other issuers. Therefore, they should not be considered in isolation or as a substitute for any other financial information prepared in accordance with GAAP. For more information on non-GAAP financial measures, including those referred to above, see the section "Non-GAAP and other financial measures" in our 1Q26 MD&A, which is incorporated by reference.
Reconciliation of core earnings to net income attributed to shareholders – 1Q26
($ millions, post-tax and based on actual foreign exchange rates in effect in the applicable reporting period, unless otherwise stated)
1Q26
Asia
Canada
U.S.
Global WAM
Corporate
and Other
Total
Income (loss) before income taxes
$ 776
$ 325
$ 159
$ 489
$ (283)
$ 1,466
Income tax (expenses) recoveries
Core earnings
(100)
(88)
(78)
(88)
42
(312)
Items excluded from core earnings
(27)
26
57
12
14
82
Income tax (expenses) recoveries
(127)
(62)
(21)
(76)
56
(230)
Net income (post-tax)
649
263
138
413
(227)
1,236
Less: Net income (post-tax) attributed to
Non-controlling interests
33
-
-
10
-
43
Participating policyholders
21
25
-
-
-
46
Net income (loss) attributed to shareholders (post-tax)
595
238
138
403
(227)
1,147
Less: Items excluded from core earnings (post-tax)
Market experience gains (losses)
(225)
(114)
(193)
(22)
(112)
(666)
Changes in actuarial methods and assumptions that flow directly through income
-
-
-
-
-
-
Restructuring charge
-
-
-
-
-
-
Amortization of acquisition-related intangible assets
-
-
-
(18)
-
(18)
Reinsurance transactions, tax related items and other
-
-
-
(5)
-
(5)
Core earnings (post-tax)
$ 820
$ 352
$ 331
$ 448
$ (115)
$ 1,836
Income tax on core earnings (see above)
100
88
78
88
(42)
312
Core earnings (pre-tax)
$ 920
$ 440
$ 409
$ 536
$ (157)
$ 2,148
Core earnings, CER basis and U.S. dollars – 1Q26
($ millions, post-tax and based on actual foreign exchange rates in effect in the applicable reporting period, unless otherwise stated)
1Q26
Asia
Canada
U.S.
Global WAM
Corporate
and Other
Total
Core earnings (post-tax)
$ 820
$ 352
$ 331
$ 448
$ (115)
$ 1,836
CER adjustment(1)
-
-
-
-
-
-
Core earnings, CER basis (post-tax)
$ 820
$ 352
$ 331
$ 448
$ (115)
$ 1,836
Income tax on core earnings, CER basis(2)
100
88
78
88
(42)
312
Core earnings, CER basis (pre-tax)
$ 920
$ 440
$ 409
$ 536
$ (157)
$ 2,148
Core earnings (U.S. dollars) – Asia and U.S. segments
Core earnings (post-tax)(3), US $
$ 598
$ 241
CER adjustment US $(1)
-
-
Core earnings, CER basis (post-tax), US $
$ 598
$ 241
(1)
The impact of updating foreign exchange rates to that which was used in 1Q26.
(2)
Income tax on core earnings adjusted to reflect the foreign exchange rates for the Statement of Income in effect for 1Q26.
(3)
Core earnings (post-tax) in Canadian $ is translated to US $ using the US $ Statement of Income exchange rate for 1Q26.
Reconciliation of core earnings to net income attributed to shareholders – 4Q25
($ millions, post-tax and based on actual foreign exchange rates in effect in the applicable reporting period, unless otherwise stated)
4Q25
Asia
Canada
U.S.
Global WAM
Corporate
and Other
Total
Income (loss) before income taxes
$ 899
$ 354
$ 101
$ 542
$ 9
$ 1,905
Income tax (expenses) recoveries
Core earnings
(101)
(111)
(75)
(93)
52
(328)
Items excluded from core earnings
(102)
25
55
10
30
18
Income tax (expenses) recoveries
(203)
(86)
(20)
(83)
82
(310)
Net income (post-tax)
696
268
81
459
91
1,595
Less: Net income (post-tax) attributed to
Non-controlling interests
26
-
-
7
-
33
Participating policyholders
47
16
-
-
-
63
Net income (loss) attributed to shareholders (post-tax)
623
252
81
452
91
1,499
Less: Items excluded from core earnings (post-tax)
Market experience gains (losses)
(121)
(158)
(238)
(1)
77
(441)
Changes in actuarial methods and assumptions that flow directly through income
-
-
-
-
-
-
Restructuring charge
-
(3)
-
(9)
-
(12)
Amortization of acquisition-related intangible assets
-
-
-
(12)
-
(12)
Reinsurance transactions, tax related items and other
(41)
-
-
(16)
28
(29)
Core earnings (post-tax)
$ 785
$ 413
$ 319
$ 490
$ (14)
$ 1,993
Income tax on core earnings (see above)
101
111
75
93
(52)
328
Core earnings (pre-tax)
$ 886
$ 524
$ 394
$ 583
$ (66)
$ 2,321
Core earnings, CER basis and U.S. dollars – 4Q25
($ millions, post-tax and based on actual foreign exchange rates in effect in the applicable reporting period, unless otherwise stated)
4Q25
Asia
Canada
U.S.
Global WAM
Corporate and Other
Total
Core earnings (post-tax)
$ 785
$ 413
$ 319
$ 490
$ (14)
$ 1,993
CER adjustment(1)
(14)
-
(6)
(6)
(1)
(27)
Core earnings, CER basis (post-tax)
$ 771
$ 413
$ 313
$ 484
$ (15)
$ 1,966
Income tax on core earnings, CER basis(2)
99
111
74
92
(52)
324
Core earnings, CER basis (pre-tax)
$ 870
$ 524
$ 387
$ 576
$ (67)
$ 2,290
Core earnings (U.S. dollars) – Asia and U.S. segments
Core earnings (post-tax)(3), US $
$ 564
$ 229
CER adjustment US $(1)
(1)
(1)
Core earnings, CER basis (post-tax), US $
$ 563
$ 228
(1)
The impact of updating foreign exchange rates to that which was used in 1Q26.
(2)
Income tax on core earnings adjusted to reflect the foreign exchange rates for the Statement of Income in effect for 1Q26.
(3)
Core earnings (post-tax) in Canadian $ is translated to US $ using the US $ Statement of Income exchange rate for 4Q25.
Reconciliation of core earnings to net income attributed to shareholders – 1Q25
($ millions, post-tax and based on actual foreign exchange rates in effect in the applicable reporting period, unless otherwise stated)
1Q25
Asia
Canada
U.S.
Global WAM
Corporate and Other
Total
Income (loss) before income taxes
$ 870
$ 305
$ (731)
$ 528
$ (273)
$ 699
Income tax (expenses) recoveries
Core earnings
(101)
(89)
(84)
(86)
29
(331)
Items excluded from core earnings
(30)
30
246
2
7
255
Income tax (expenses) recoveries
(131)
(59)
162
(84)
36
(76)
Net income (post-tax)
739
246
(569)
444
(237)
623
Less: Net income (post-tax) attributed to
Non-controlling interests
67
-
-
1
(2)
66
Participating policyholders
48
24
-
-
-
72
Net income (loss) attributed to shareholders (post-tax)
624
222
(569)
443
(235)
485
Less: Items excluded from core earnings (post-tax)
Market experience gains (losses)
(77)
(152)
(930)
(11)
(162)
(1,332)
Changes in actuarial methods and assumptions that flow directly through income
-
-
-
-
-
-
Restructuring charge
-
-
-
-
-
-
Amortization of acquisition-related intangible assets
-
-
-
-
-
-
Reinsurance transactions, tax related items and other
(4)
-
-
-
54
50
Core earnings (post-tax)
$ 705
$ 374
$ 361
$ 454
$ (127)
$ 1,767
Income tax on core earnings (see above)
101
89
84
86
(29)
331
Core earnings (pre-tax)
$ 806
$ 463
$ 445
$ 540
$ (156)
$ 2,098
Core earnings, CER basis and U.S. dollars – 1Q25
($ millions, post-tax and based on actual foreign exchange rates in effect in the applicable reporting period, unless otherwise stated)
1Q25
Asia
Canada
U.S.
Global WAM
Corporate and Other
Total
Core earnings (post-tax)
$ 705
$ 374
$ 361
$ 454
$ (127)
$ 1,767
CER adjustment(1)
(31)
-
(16)
(15)
-
(62)
Core earnings, CER basis (post-tax)
$ 674
$ 374
$ 345
$ 439
$ (127)
$ 1,705
Income tax on core earnings, CER basis(2)
96
89
80
84
(28)
321
Core earnings, CER basis (pre-tax)
$ 770
$ 463
$ 425
$ 523
$ (155)
$ 2,026
Core earnings (U.S. dollars) – Asia and U.S. segments
Core earnings (post-tax)(3), US $
$ 492
$ 251
CER adjustment US $(1)
-
1
Core earnings, CER basis (post-tax), US $
$ 492
$ 252
(1)
The impact of updating foreign exchange rates to that which was used in 1Q26.
(2)
Income tax on core earnings adjusted to reflect the foreign exchange rates for the Statement of Income in effect for 1Q26.
(3)
Core earnings (post-tax) in Canadian $ is translated to US $ using the US $ Statement of Income exchange rate for 1Q25.
Core earnings available to common shareholders
($ millions, post-tax and based on actual foreign exchange rates in effect in the applicable reporting period, unless otherwise stated)
Quarterly Results
Full Year Results
1Q26
4Q25
3Q25
2Q25
1Q25
2025
Core earnings
$ 1,836
$ 1,993
$ 2,035
$ 1,726
$ 1,767
$ 7,521
Less: Preferred share dividends and other equity distributions
58
103
58
103
57
321
Core earnings available to common shareholders
1,778
1,890
1,977
1,623
1,710
7,200
CER adjustment(1)
-
(27)
(16)
(21)
(62)
(126)
Core earnings available to common shareholders, CER basis
$ 1,778
$ 1,863
$ 1,961
$ 1,602
$ 1,648
$ 7,074
(1)
The impact of updating foreign exchange rates to which was used in 1Q26.
Core ROE
($ millions, unless otherwise stated)
Quarterly Results
Full Year Results
1Q26
4Q25
3Q25
2Q25
1Q25
2025
Core earnings available to common shareholders
$ 1,778
$ 1,890
$ 1,977
$ 1,623
$ 1,710
$ 7,200
Annualized core earnings available to common shareholders (post-tax)
$ 7,211
$ 7,498
$ 7,844
$ 6,510
$ 6,935
$ 7,200
Average common shareholders' equity (see below)
$ 43,717
$ 43,759
$ 43,238
$ 43,448
$ 44,394
$ 43,709
Core ROE (annualized) (%)
16.5 %
17.1 %
18.1 %
15.0 %
15.6 %
16.5 %
Average common shareholders' equity
Total shareholders' and other equity
$ 50,632
$ 50,121
$ 50,716
$ 49,080
$ 51,135
$ 50,121
Less: Preferred shares and other equity
6,660
6,660
6,660
6,660
6,660
6,660
Common shareholders' equity
$ 43,972
$ 43,461
$ 44,056
$ 42,420
$ 44,475
$ 43,461
Average common shareholders' equity
$ 43,717
$ 43,759
$ 43,238
$ 43,448
$ 44,394
$ 43,709
CSM and post-tax CSM information
($ millions pre-tax and based on actual foreign exchange rates in effect in the applicable reporting period, unless otherwise stated)
As at
Mar 31, 2026
Dec 31, 2025
Sep 30, 2025
Jun 30, 2025
Mar 31, 2025
CSM
$ 27,325
$ 26,568
$ 26,283
$ 23,722
$ 23,713
Less: CSM for NCI
1,736
1,599
1,565
1,406
1,417
CSM, net of NCI
$ 25,589
$ 24,969
$ 24,718
$ 22,316
$ 22,296
CER adjustment(1)
-
332
(66)
197
(556)
CSM, net of NCI, CER basis
$ 25,589
$ 25,301
$ 24,652
$ 22,513
$ 21,740
CSM by segment
Asia
$ 18,228
$ 17,750
$ 17,580
$ 15,786
$ 15,904
Asia NCI
1,736
1,599
1,565
1,406
1,417
Canada
4,432
4,459
4,490
4,133
4,052
U.S.
2,927
2,760
2,649
2,386
2,329
Corporate and Other
2
-
(1)
11
11
CSM
$ 27,325
$ 26,568
$ 26,283
$ 23,722
$ 23,713
CSM, CER adjustment(1)
Asia
$ -
$ 282
$ (74)
$ 143
$ (486)
Asia NCI
-
46
50
80
23
Canada
-
-
-
-
-
U.S.
-
50
8
54
(70)
Corporate and Other
-
-
-
1
-
Total
$ -
$ 378
$ (16)
$ 278
$ (533)
CSM, CER basis
Asia
$ 18,228
$ 18,032
$ 17,506
$ 15,929
$ 15,418
Asia NCI
1,736
1,645
1,615
1,486
1,440
Canada
4,432
4,459
4,490
4,133
4,052
U.S.
2,927
2,810
2,657
2,440
2,259
Corporate and Other
2
-
(1)
12
11
Total CSM, CER basis
$ 27,325
$ 26,946
$ 26,267
$ 24,000
$ 23,180
Post-tax CSM
CSM
$ 27,325
$ 26,568
$ 26,283
$ 23,722
$ 23,713
Marginal tax rate on CSM
(4,510)
(4,403)
(4,347)
(3,940)
(3,929)
Post-tax CSM
$ 22,815
$ 22,165
$ 21,936
$ 19,782
$ 19,784
CSM, net of NCI
$ 25,589
$ 24,969
$ 24,718
$ 22,316
$ 22,296
Marginal tax rate on CSM net of NCI
(4,334)
(4,236)
(4,181)
(3,789)
(3,772)
Post-tax CSM net of NCI
$ 21,255
$ 20,733
$ 20,537
$ 18,527
$ 18,524
(1)
The impact of reflecting CSM and CSM net of NCI using the foreign exchange rates for the Statement of Financial Position in effect for 1Q26.
New business CSM(1) detail, CER basis
($ millions pre-tax, and based on actual foreign exchange rates in effect in the applicable reporting period, unless otherwise stated)
Quarterly Results
Full Year Results
1Q26
4Q25
3Q25
2Q25
1Q25
2025
New business CSM
Hong Kong
$ 316
$ 244
$ 287
$ 286
$ 316
$ 1,133
Japan
167
159
76
74
81
390
Mainland China
114
55
112
63
126
356
Singapore
165
159
182
140
138
619
Other(2)
40
80
55
100
54
289
Asia
802
697
712
663
715
2,787
Canada
103
135
109
100
91
435
U.S.
114
188
145
119
101
553
Total new business CSM
$ 1,019
$ 1,020
$ 966
$ 882
$ 907
$ 3,775
New business CSM, CER adjustment(3)
Hong Kong
$ -
$ (4)
$ (1)
$ (2)
$ (13)
$ (20)
Japan
-
(6)
(5)
(6)
(6)
(23)
Mainland China
-
1
3
2
-
6
Singapore
-
(1)
1
1
1
2
Other(2)
-
(1)
(1)
(1)
(2)
(5)
Asia
-
(11)
(3)
(6)
(20)
(40)
Canada
-
-
-
-
-
-
U.S.
-
(4)
(1)
(1)
(4)
(10)
Total new business CSM
$ -
$ (15)
$ (4)
$ (7)
$ (24)
$ (50)
New business CSM, CER basis
Hong Kong
$ 316
$ 240
$ 286
$ 284
$ 303
$ 1,113
Japan
167
153
71
68
75
367
Mainland China
114
56
115
65
126
362
Singapore
165
158
183
141
139
621
Other(2)
40
79
54
99
52
284
Asia
802
686
709
657
695
2,747
Canada
103
135
109
100
91
435
U.S.
114
184
144
118
97
543
Total new business CSM, CER basis
$ 1,019
$ 1,005
$ 962
$ 875
$ 883
$ 3,725
(1)
New business CSM is net of NCI.
(2)
Other includes Cambodia, Indonesia, International High Net Worth, Malaysia, Myanmar, the Philippines and Vietnam.
(3)
The impact of updating foreign exchange rates to that which was used in 1Q26.
Net income financial measures on a CER basis
($ Canadian millions, post-tax and based on actual foreign exchange rates in effect in the applicable reporting period, unless otherwise stated)
Quarterly Results
Full Year Results
1Q26
4Q25
3Q25
2Q25
1Q25
2025
Net income (loss) attributed to shareholders:
Asia
$ 595
$ 623
$ 895
$ 830
$ 624
$ 2,972
Canada
238
252
449
390
222
1,313
U.S.
138
81
(75)
36
(569)
(527)
Global WAM
403
452
523
482
443
1,900
Corporate and Other
(227)
91
7
51
(235)
(86)
Total net income (loss) attributed to shareholders
1,147
1,499
1,799
1,789
485
5,572
Preferred share dividends and other equity distributions
(58)
(103)
(58)
(103)
(57)
(321)
Common shareholders' net income (loss)
$ 1,089
$ 1,396
$ 1,741
$ 1,686
$ 428
$ 5,251
CER adjustment(1)
Asia
$ -
$ (6)
$ 9
$ (8)
$ (40)
$ (45)
Canada
-
(1)
2
(1)
2
2
U.S.
-
(1)
(2)
-
24
21
Global WAM
-
(8)
(1)
(5)
(20)
(34)
Corporate and Other
-
(3)
(2)
3
9
7
Total net income (loss) attributed to shareholders
-
(19)
6
(11)
(25)
(49)
Preferred share dividends and other equity distributions
-
-
-
-
-
-
Common shareholders' net income (loss)
$ -
$ (19)
$ 6
$ (11)
$ (25)
$ (49)
Net income (loss) attributed to shareholders, CER basis
Asia
$ 595
$ 617
$ 904
$ 822
$ 584
$ 2,927
Canada
238
251
451
389
224
1,315
U.S.
138
80
(77)
36
(545)
(506)
Global WAM
403
444
522
477
423
1,866
Corporate and Other
(227)
88
5
54
(226)
(79)
Total net income (loss) attributed to shareholders, CER basis
1,147
1,480
1,805
1,778
460
5,523
Preferred share dividends and other equity distributions, CER basis
(58)
(103)
(58)
(103)
(57)
(321)
Common shareholders' net income (loss), CER basis
$ 1,089
$ 1,377
$ 1,747
$ 1,675
$ 403
$ 5,202
Asia net income attributed to shareholders, U.S. dollars
Asia net income (loss) attributed to shareholders, US $(2)
$ 433
$ 447
$ 649
$ 600
$ 435
$ 2,131
CER adjustment, US $(1)
-
3
10
(1)
(9)
3
Asia net income (loss) attributed to shareholders, U.S. $, CER basis(1)
$ 433
$ 450
$ 659
$ 599
$ 426
$ 2,134
Net income (loss) attributed to shareholders (pre-tax)
Net income (loss) attributed to shareholders (post-tax)
$ 1,147
$ 1,499
$ 1,799
$ 1,789
$ 485
$ 5,572
Tax on net income attributed to shareholders
215
292
283
307
47
929
Net income (loss) attributed to shareholders (pre-tax)
1,362
1,791
2,082
2,096
532
6,501
CER adjustment(1)
-
(17)
(20)
(23)
(18)
(78)
Net income (loss) attributed to shareholders (pre-tax), CER basis
$ 1,362
$ 1,774
$ 2,062
$ 2,073
$ 514
$ 6,423
(1)
The impact of updating foreign exchange rates to that which was used in 1Q26.
(2)
Asia net income attributed to shareholders (post-tax) in Canadian dollars is translated to U.S. dollars using the U.S. dollar Statement of Income rate for the reporting period.
Adjusted book value
($ millions)
Mar 31, 2026
Dec 31, 2025
Sep 30, 2025
Jun 30, 2025
Mar 31, 2025
As at
Common shareholders' equity
$ 43,972
$ 43,461
$ 44,056
$ 42,420
$ 44,475
Post-tax CSM, net of NCI
21,255
20,733
20,537
18,527
18,524
Adjusted book value
$ 65,227
$ 64,194
$ 64,593
$ 60,947
$ 62,999
Reconciliation of Global WAM core earnings to core EBITDA
($ millions, pre-tax and based on actual foreign exchange rates in effect in the applicable reporting period, unless otherwise stated)
Quarterly Results
Full Year Results
1Q26
4Q25
3Q25
2Q25
1Q25
2025
Global WAM core earnings (post-tax)
$ 448
$ 490
$ 525
$ 463
$ 454
$ 1,932
Add back taxes, acquisition costs, other expenses and deferred sales commissions
Core income tax (expenses) recoveries (see above)
88
93
82
89
86
350
Amortization of deferred acquisition costs and other depreciation
63
61
44
51
46
202
Amortization of deferred sales commissions
24
24
21
20
22
87
Core EBITDA
$ 623
$ 668
$ 672
$ 623
$ 608
$ 2,571
CER adjustment(1)
-
(9)
(2)
(5)
(20)
(36)
Core EBITDA, CER basis
$ 623
$ 659
$ 670
$ 618
$ 588
$ 2,535
(1)
The impact of updating foreign exchange rates to that which was used in 1Q26.
Less: Other revenue in segments other than Global WAM
(56)
28
121
(53)
11
107
Other revenue in Global WAM (fee income)
$ 1,986
$ 2,119
$ 2,024
$ 1,904
$ 1,975
$ 8,022
Investment income per financial statements
$ 4,536
$ 5,358
$ 4,682
$ 4,740
$ 4,234
$ 19,014
Realized and unrealized gains (losses) on assets supporting insurance and investment contract liabilities per financial statements
(1,384)
1,106
3,784
2,377
(992)
6,275
Total investment income
3,152
6,464
8,466
7,117
3,242
25,289
Less: Investment income in segments other than Global WAM
3,015
6,300
8,275
6,924
3,089
24,588
Investment income in Global WAM
$ 137
$ 164
$ 191
$ 193
$ 153
$ 701
Total other revenue and investment income in Global WAM
$ 2,123
$ 2,283
$ 2,215
$ 2,097
$ 2,128
$ 8,723
Less: Total revenue reported in items excluded from core earnings
Market experience gains (losses)
(28)
(1)
24
20
(14)
29
Revenue related to integration and acquisitions
5
(1)
16
8
2
25
Global WAM core revenue
$ 2,146
$ 2,285
$ 2,175
$ 2,069
$ 2,140
$ 8,669
Core expenses
($ millions, and based on actual foreign exchange rates in effect in the applicable reporting period, unless otherwise stated)
Quarterly Results
Full Year Results
1Q26
4Q25
3Q25
2Q25
1Q25
2025
Core expenses
General expenses – Statements of Income
$ 1,251
$ 1,327
$ 1,232
$ 1,140
$ 1,202
$ 4,901
Directly attributable acquisition expense for contracts measured using the PAA method and products without a CSM(1)
48
48
42
40
42
172
Directly attributable maintenance expense(1)
552
542
524
514
532
2,112
Total expenses
1,851
1,917
1,798
1,694
1,776
7,185
Less: General expenses included in items excluded from core earnings
Restructuring charge
-
16
-
-
-
16
Amortization of acquisition-related intangible assets
23
16
8
-
-
24
Integration and acquisition
-
7
22
-
-
29
Legal provisions and Other expenses
1
5
10
5
-
20
Total
24
44
40
5
-
89
Core expenses
$ 1,827
$ 1,873
$ 1,758
$ 1,689
$ 1,776
$ 7,096
CER adjustment(2)
-
(18)
(5)
(12)
(39)
(74)
Core expenses, CER basis
$ 1,827
$ 1,855
$ 1,753
$ 1,677
$ 1,737
$ 7,022
Total expenses
$ 1,851
$ 1,917
$ 1,798
$ 1,694
$ 1,776
$ 7,185
CER adjustment(2)
-
(18)
(5)
(11)
(40)
(74)
Total expenses, CER basis
$ 1,851
$ 1,899
$ 1,793
$ 1,683
$ 1,736
$ 7,111
(1)
Expenses are components of insurance service expenses on the Statements of Income that flow directly through income.
(2)
The impact of updating foreign exchange rates to that which was used in 1Q26.
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
From time to time, Manulife makes written and/or oral forward-looking statements, including in this document. In addition, our representatives may make forward-looking statements orally to analysts, investors, the media and others. All such statements are made pursuant to the "safe harbour" provisions of Canadian provincial securities laws and the U.S. Private Securities Litigation Reform Act of 1995.
The forward-looking statements in this document include, but are not limited to, statements with respect to our ability to achieve our medium-term financial and operating targets, the anticipated benefits of the acquisition of Schroders Indonesia and the partnership between Global WAM and L&G, the expected benefits and value derived from the use of AI and also relate to, among other things, our objectives, goals, strategies, intentions, plans, beliefs, expectations and estimates, and can generally be identified by the use of words such as "may", "will", "could", "should", "would", "likely", "suspect", "outlook", "expect", "intend", "estimate", "anticipate", "believe", "plan", "forecast", "objective", "seek", "aim", "continue", "goal", "restore", "embark" and "endeavour" (or the negative thereof) and words and expressions of similar import, and include statements concerning possible or assumed future results. Although we believe that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed on such statements and they should not be interpreted as confirming market or analysts' expectations in any way.
Certain material factors or assumptions are applied in making forward-looking statements and actual results may differ materially from those expressed or implied in such statements.
Important factors that could cause actual results to differ materially from expectations include but are not limited to: general business and economic conditions (including but not limited to the performance, volatility and correlation of equity markets, interest rates, credit and swap spreads, inflation rates, currency rates, investment losses and defaults, market liquidity and creditworthiness of guarantors, reinsurers and counterparties); changes in laws and regulations; changes in accounting standards applicable in any of the territories in which we operate; changes in regulatory capital requirements; our ability to obtain premium rate increases on in-force policies; our ability to execute strategic plans and changes to strategic plans; downgrades in our financial strength or credit ratings; our ability to maintain our reputation; impairments of goodwill or intangible assets or the establishment of provisions against future tax assets; the accuracy of estimates relating to morbidity, mortality and policyholder behaviour; the accuracy of other estimates used in applying accounting policies and actuarial methods and embedded value methods; our ability to implement effective hedging strategies and unforeseen consequences arising from such strategies; our ability to source appropriate assets to back our long-dated liabilities; level of competition and consolidation; our ability to market and distribute products through current and future distribution channels; unforeseen liabilities or asset impairments arising from acquisitions and dispositions of businesses; the realization of losses arising from the sale of investments classified fair value through other comprehensive income; our liquidity, including the availability of financing to satisfy existing financial liabilities on expected maturity dates when required; obligations to pledge additional collateral; the availability of letters of credit to provide capital management flexibility; accuracy of information received from counterparties and the ability of counterparties to meet their obligations; the availability, affordability and adequacy of reinsurance; legal and regulatory proceedings, including tax audits, tax litigation or similar proceedings; our ability to adapt products and services to the changing market; our ability to attract and retain key executives, employees and agents; the appropriate use and interpretation of complex models or deficiencies in models used; political, legal, operational and other risks associated with our operations; geopolitical uncertainty, including international conflicts and trade disputes; acquisitions and our ability to complete acquisitions including the availability of equity and debt financing for this purpose; the disruption of or changes to key elements of the Company's or public infrastructure systems; environmental concerns, including climate change; our ability to protect our intellectual property and exposure to claims of infringement; our ability to execute our digital plans and to deploy future digital use cases, including with respect to AI, the anticipated benefits from the Schroders Indonesia acquisition and the partnership between Global WAM and L&G, and our inability to withdraw cash from subsidiaries.
Additional information about material risk factors that could cause actual results to differ materially from expectations and about material factors or assumptions applied in making forward-looking statements may be found under "Risk Management and Risk Factors" and "Critical Actuarial and Accounting Policies" in the Management's Discussion and Analysis in our most recent annual report, under "Risk Management and Risk Factors Update" and "Critical Actuarial and Accounting Policies" in the Management's Discussion and Analysis in our most recent interim report, and in the "Risk Management" note to the Consolidated Financial Statements in our most recent annual and interim reports, as well as elsewhere in our filings with Canadian and U.S. securities regulators.
The forward-looking statements in this document are, unless otherwise indicated, stated as of the date hereof and are presented for the purpose of assisting investors and others in understanding our financial position and results of operations, our future operations, as well as our objectives and strategic priorities, and may not be appropriate for other purposes. We do not undertake to update any forward-looking statements, except as required by law.
, /PRNewswire/ - Manulife's Board of Directors today announced a quarterly common shareholders' dividend of $0.485 per share on the common shares of Manulife, payable on and after June 19, 2026, to shareholders of record at the close of business on May 29, 2026.
In respect of the Company's Canadian Dividend Reinvestment and Share Purchase Plan and its U.S. Dividend Reinvestment and Share Purchase Plan, the Company will purchase common shares on the open market in connection with the reinvestment of dividends and optional cash purchases under these plans. The purchase price of these common shares will be based on the average of the actual cost to purchase them and there are no applicable discounts.
About Manulife
Manulife Financial Corporation is a leading international financial services provider, headquartered in Toronto, Canada. Anchored in our ambition to be the number one choice for customers, we operate as Manulife across Canada and Asia, and primarily as John Hancock in the United States, providing financial advice, insurance and health solutions for individuals, groups and businesses. Through Manulife Wealth & Asset Management, we offer global investment solutions, financial advice, and retirement plan services to individuals, institutions, and retirement plan members worldwide. At the end of 2025, we had more than 37,000 employees, over 106,000 agents, and thousands of distribution partners, serving over 37 million customers with operations across 25 markets globally. We trade as 'MFC' on the Toronto, New York, and Philippine stock exchanges, and under '945' on the Hong Kong stock exchange. Not all offerings are available in all jurisdictions. For additional information, please visit manulife.com.
Media Contact
Fiona McLean
Manulife
437-441-7491
[email protected]
, /PRNewswire/ - Manulife's Board of Directors today announced quarterly shareholders' dividends on the following non-cumulative preferred shares of Manulife Financial Corporation, payable on or after June 19, 2026 to shareholders of record at the close of business on May 29, 2026:
Class A Shares Series 2 - $0.29063 per share Class A Shares Series 3 - $0.28125 per share Class 1 Shares Series 3 - $0.14675 per share Class 1 Shares Series 4 - $0.226850 per share Class 1 Shares Series 9 - $0.373625 per share Class 1 Shares Series 11 - $0.384938 per share Class 1 Shares Series 13 - $0.396875 per share Class 1 Shares Series 15 - $0.360938 per share Class 1 Shares Series 17 - $0.346375 per share Class 1 Shares Series 19 - $0.323063 per share Class 1 Shares Series 25 - $0.371375 per share About Manulife
Manulife Financial Corporation is a leading international financial services provider, headquartered in Toronto, Canada. Anchored in our ambition to be the number one choice for customers, we operate as Manulife across Canada and Asia, and primarily as John Hancock in the United States, providing financial advice, insurance and health solutions for individuals, groups and businesses. Through Manulife Wealth & Asset Management, we offer global investment solutions, financial advice, and retirement plan services to individuals, institutions, and retirement plan members worldwide. At the end of 2025, we had more than 37,000 employees, over 106,000 agents, and thousands of distribution partners, serving over 37 million customers with operations across 25 markets globally. We trade as 'MFC' on the Toronto, New York, and Philippine stock exchanges, and under '945' on the Hong Kong stock exchange.
Not all offerings are available in all jurisdictions. For additional information, please visit manulife.com.
Media Contact:
Fiona McLean
Manulife
437-441-7491
[email protected]
Key Takeaways MFC posted Q1 core EPS of 77 cents, missing estimates despite 11.6% year-over-year growth. Manulife saw APE sales, new business CSM and NBV rise in Asia and portfolio strength. MFC's Asia earnings climbed 22%, while U.S. core earnings slipped on lower investment spreads. Manulife Financial Corporation (MFC - Free Report) delivered first-quarter 2026 core earnings of 77 cents per share, which missed the Zacks Consensus Estimate by 2.5%. The bottom line increased 11.6% year over year. Core earnings of $1.3 billion (C$1.8 billion) increased 8.3% year over year.
The increase in core earnings was driven by strong business growth in Asia and Global WAM, along with the net positive impact of 2025 updates to actuarial methods and assumptions, as well as a net improvement in insurance experience. It was partially offset by lower investment spreads in the United States and the impact of the eMPF transition in Hong Kong.
New business value (NBV) in the reported quarter was $688 million (C$944 million), up 8.9% year over year.
Annualized premium equivalent (APE) sales increased 11.1% year over year to $2 billion (C$2.8 billion).
New business contractual service margin (CSM) increased 17.7% year over year to $743 million (C$1,019 million).
The increase in APE sales, new business CSM and NBV reflects the strength of the diversified business portfolio.
The Global Wealth and Asset Management business generated net outflows of $3.2 billion (C$4.4 billion) compared to net inflows of $0.3 billion (C$0.5 billion) in the year-ago quarter.
Core return on equity, measuring the company’s profitability, expanded 90 basis points year over year to 16.5%.
The Life Insurance Capital Adequacy Test ratio was 136% as of March 31, 2026.
Segmental Performance of MFCThe Global Wealth and Asset Management division’s core earnings were $326 million (C$448 million), up 3.1% year over year. The increase was driven by higher net fee income from favorable market impacts over the past 12 months, contributions from the Manulife Comvest business and continued expense discipline. It was partially offset by the impact of the eMPF transition in Hong Kong and lower performance fees.
Retirement net outflows of $2 billion (C$2.8 billion) increased 11.1% year over year, driven by higher member withdrawals reflecting higher account balances from market growth and higher retirement plan redemptions in the United States. It was partially offset by lower retirement plan redemptions in Canada.
Retail net outflows of $4.2 billion (C$5.8 billion) compared to net inflows of $0.3 billion (C$0.5 billion) in the year-ago quarter, primarily due to higher net outflows in active mutual funds through third-party intermediaries in North America, including a few large model redemptions in the United States.
Institutional Asset Management net inflows of $3 billion (C$4.2 billion) increased 66.6%. The increase was driven by net flows from the Manulife Comvest business, and higher net sales from money market mandates in mainland China and from Manulife CQS products. It was partially offset by lower net flows in equity mandates and lower deployments in private equity mandates.
Asia Delivers Strong GrowthAsia division’s core earnings totaled $598 million, up 22% year over year, reflecting continued business growth and the net positive impact of 2025 updates to actuarial methods and assumptions. It was partially offset by less favorable insurance experience.
Asia reported strong growth in APE sales, new business CSM and NBV, with a year-over-year increase of 11%, 15% and 15%, respectively. The increase was driven by higher sales volumes and a more favorable business mix, reflecting growth in Hong Kong, Japan and Singapore across all three new business metrics. NBV margin improved modestly to 38.2%.
Canada and U.S. Face HeadwindsManulife Financial’s Canada division’s core earnings of $256 million (C$352 million) declined 1.5% year over year. The downside was due to unfavorable insurance experience in Group Insurance in the first quarter of 2026. The variance in insurance experience was largely driven by higher long-term disability claims, along with higher expenses to support the growing business and transformational investment to elevate customer experience in Group Insurance. This was partially offset by business growth in the segment, the net positive impact of 2025 updates to actuarial methods and assumptions, and a lower charge in the expected credit loss provision.
APE sales and NBV decreased 15% and 16%, respectively, due to lower Group Insurance sales. This was partially offset by higher Individual Insurance sales.
New business CSM increased 13%, reflecting growth in Individual Insurance from higher participating life insurance sales.
The U.S. division reported core earnings of $241 million, down 4% year over year. The decrease was primarily due to lower investment spreads. It was partially offset by favorable net insurance experience in the first quarter of 2026.
APE sales increased 29% while new business CSM grew 19%. The increase reflects higher demand for accumulation insurance products, supported by recent product enhancements.
NBV decreased 8% due to product mix, partially offset by higher sales volumes.
MFC's Dividend UpdateThe board of directors declared a quarterly dividend of 48.5 cents per share on Manulife's shares. The dividend will be paid out on June 19, 2026, to shareholders of record as of May 29, 2026.
MFC’s Zacks RankPerformance of Other Life InsurersVoya Financial, Inc. (VOYA - Free Report) reported first-quarter 2026 adjusted operating earnings of $2.26 per share, which beat the Zacks Consensus Estimate by 11.8%. The bottom line increased 13% year over year. Adjusted operating revenues amounted to $2 billion, which increased 3.1% year over year. Net investment income increased 1.6% year over year to $569 million.
Meanwhile, fee income of $604 million increased 6% year over year. Premiums totaled $744 million, up 1% from the year-ago quarter. Total benefits and expenses were $1.8 billion, up 0.3% from the year-ago quarter. As of March 31, 2026, VOYA’s assets under management, and assets under administration and advisement totaled $1.1 trillion.
Sun Life Financial Inc. (SLF - Free Report) delivered first-quarter 2026 underlying net income of $1.38 per share, which beat the Zacks Consensus Estimate by 2.2%. The bottom line increased 8.7% year over year. Underlying net income totaled $765 million (C$1 billion), which increased 5.2% year over year. Revenues of $6.4 billion decreased 18.9% year over year.
Asset management gross flows & wealth sales of $45.4 billion (C$62.3 billion) increased 4.8% year over year. Group - Health & Protection sales of $402 million (C$552 million) declined 0.4% year over year. Individual - Protection sales of $840 million (C$1.15 billion) jumped 38.1% year over year. New business contractual service margin (CSM) was $313 million (C$429 million), up 11% year over year.
Reinsurance Group of America, Incorporated (RGA - Free Report) reported first-quarter 2026 adjusted operating earnings of $6.97 per share, which beat the Zacks Consensus Estimate by 12.6%. The bottom line rose 21.9% from the year-ago quarter. RGA's operating revenues of $6.7 billion beat the Zacks Consensus Estimate by 3.7%. The top line improved 19.9% year over year.
Net premiums of $4.6 billion increased 14.3% year over year and beat the Zacks Consensus Estimates by 2.4%. Investment income improved 19.3% from the prior-year quarter to $1.7 billion and beat the Zacks Consensus Estimates by 7.4%. The average investment yield increased to 4.93% from 4.64% in the prior-year period, driven by higher variable investment income.
, /PRNewswire/ - Manulife Financial Corporation ("Manulife") announced today that each of the following 13 nominees proposed to be elected at the Annual Meeting of Shareholders held earlier today has been elected. The detailed results of the vote for the election of directors are set out below.
NAME OF NOMINEE
VOTES FOR
%
VOTES WITHHELD
%
Nicole S. Arnaboldi
923,106,544
99.19 %
7,569,575
0.81 %
Guy L.T. Bainbridge
908,415,354
97.61 %
22,260,765
2.39 %
Nancy J. Carroll
920,908,127
98.95 %
9,767,992
1.05 %
Julie E. Dickson
927,556,188
99.66 %
3,119,931
0.34 %
J. Michael Durland
920,976,611
98.96 %
9,699,508
1.04 %
Donald P. Kanak
928,659,130
99.78 %
2,016,989
0.22 %
Donald R. Lindsay
887,578,840
95.37 %
43,097,279
4.63 %
Anna Manning
928,957,110
99.82 %
1,719,009
0.18 %
John S. Montalbano
928,892,606
99.81 %
1,783,513
0.19 %
May Tan
918,057,264
98.64 %
12,618,855
1.36 %
Leagh E. Turner
928,667,625
99.78 %
2,008,494
0.22 %
Philip J. Witherington
928,909,491
99.81 %
1,766,628
0.19 %
John W. P-K. Wong
920,724,122
98.93 %
9,951,997
1.07 %
Final voting results on all matters voted on at the Annual Meeting will be available shortly on our website (www.manulife.com/annualmeeting) and will be filed with Canadian and U.S. securities regulators.
About Manulife
Manulife Financial Corporation is a leading international financial services provider, headquartered in Toronto, Canada. Anchored in our ambition to be the number one choice for customers, we operate as Manulife across Canada and Asia, and primarily as John Hancock in the United States, providing financial advice, insurance and health solutions for individuals, groups and businesses. Through Manulife Wealth & Asset Management, we offer global investment solutions, financial advice, and retirement plan services to individuals, institutions, and retirement plan members worldwide. At the end of 2025, we had more than 37,000 employees, over 106,000 agents, and thousands of distribution partners, serving over 37 million customers with operations across 25 markets globally. We trade as 'MFC' on the Toronto, New York, and Philippine stock exchanges, and under '945' on the Hong Kong stock exchange. Not all offerings are available in all jurisdictions. For additional information, please visit manulife.com.
Media Relations:
Fiona McLean
Manulife
437-441-7491
[email protected]
5 Undervalued Stocks To Secure Your High Yield PortfolioManulife Financial NYSE: MFC reported what executives described as solid first-quarter 2026 results, with growth in insurance sales and earnings in Asia helping offset pressure in Global Wealth and Asset Management and unfavorable insurance experience in Canada.
President and Chief Executive Officer Phil Witherington said the company built on its 2025 momentum despite “heightened macro uncertainty,” pointing to double-digit growth in new business contractual service margin, or CSM, across each insurance segment. Manulife’s CSM balance rose 18%, while new business CSM increased 16% from the prior year.
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3 High Short Interest Stocks that Investors are Getting WrongCore earnings per share rose 11% year over year, which Witherington said was in line with the company’s medium-term target. Core return on equity was 16.5%, up 90 basis points from a year earlier, as management reiterated its goal of reaching 18% or higher by 2027.
Chief Financial Officer Colin Simpson said net income for the quarter was $1.1 billion, reflecting a market experience charge driven primarily by public equity performance. He added that most equity markets had “largely reversed their first quarter underperformance” by the time of the call. The company also recorded a $242 million charge in its ALDA portfolio, primarily tied to lower-than-expected returns in real estate, timber and private equity investments.
Asia Drives Growth as Japan, Hong Kong and Singapore Post Gains Asia remained a key contributor to Manulife’s results. Witherington said the region generated strong sales, with meaningful growth in Hong Kong, Japan and Singapore. Simpson said Asia annualized premium equivalent, or APE, sales rose 11% year over year, supported by double-digit growth in those three markets. Hong Kong delivered record quarterly sales after a softer fourth quarter, with APE sales up 18% from a year earlier.
Asia core earnings increased 22% year over year, reflecting business growth and the favorable net impact of last year’s basis change, partly offset by less favorable insurance experience.
During the question-and-answer session, Steve Finch, President and CEO of Manulife Asia, said Japan’s performance reflected continued momentum from 2025 and the company’s effort to broaden its product lineup across distribution channels. Finch said Manulife had introduced whole life and investment-linked products that “hit the mark” with customer needs. He said the environment in Japan remained supportive for insurance, aided by customer demand for retirement savings and an interest rate backdrop that improved product attractiveness.
Asked whether first-quarter Asia earnings were a good baseline, Finch said the quarter was “a good base” for future growth, subject to normal variability.
Global WAM Sees Outflows Despite Record Gross Flows Global Wealth and Asset Management recorded net outflows of $4.4 billion in the quarter, despite record gross flows. Simpson said outflows were driven by active mutual fund redemptions in North America retail and, to a lesser extent, U.S. retirement plan redemptions. These pressures were partially offset by institutional inflows, including contributions from the recently acquired Comvest business and CQS.
Paul Lorentz, President and CEO of Global Wealth and Asset Management, said gross flows reached $56 billion, up 13% from the prior quarter and 15% from the prior year. He said two model redemptions late in the quarter accounted for $3.4 billion of the $4.4 billion in net outflows and were related to partners reallocating asset mix rather than performance.
Global WAM core EBITDA margin expanded 60 basis points from the prior year, helped by AUMA growth, the Comvest acquisition and expense discipline, partly offset by the Hong Kong eMPF transition and lower performance fees. Core earnings grew 2%.
Lorentz said the eMPF impact was consistent with prior guidance at about CAD 33 million in the quarter, and that some one-time transition costs would not recur in the second quarter. He said the second-quarter earnings run rate should approach the $500 million mark, assuming current market levels.
Canada Pressured by Group Insurance Experience Manulife Canada reported a 15% decline in APE sales, reflecting lower group insurance sales, partially offset by higher individual insurance sales. New business CSM rose 13%, driven by growth in individual insurance.
Canada core earnings declined 6% year over year, mainly due to unfavorable group insurance experience compared with favorable experience in the prior year. Simpson said the pressure reflected higher incidence and lower recoveries in long-term disability, as well as higher expenses tied to business growth and transformation investments.
Naveed Irshad, President and CEO of Manulife Canada and Global Head of Inforce Management and Group Reinsurance, said the company saw modestly higher long-term disability incidence and lower recoveries. He also cited experience losses in travel insurance due to recent global disruptions, which management does not expect to persist. Irshad said Manulife began hiring additional case managers in 2025 after disability caseloads exceeded target levels following business growth, and expects Canada segment total insurance experience to improve toward more normal levels by year-end.
Witherington noted that group sales can be lumpy and said persistency is a better metric for that business. He said persistency remains strong.
U.S. Sales Rise on Adjustable Products and Expanded Distribution In the U.S., APE sales increased 29% year over year, driven by demand for insurance accumulation products. New business CSM also grew strongly. Core earnings declined modestly, mainly due to lower investment spreads, partly offset by favorable insurance experience.
Brooks Tingle, President and CEO of John Hancock, said the quarter marked the seventh consecutive period of strong new business growth. He pointed to a more than 50% increase in the wholesaling team from a year earlier, and said Manulife continues to benefit from differentiated offerings tied to wellness and longevity through its Vitality platform.
Tingle said the company’s U.S. business has largely moved away from long-duration guarantees since 2010, and that its current block is “virtually entirely adjustable.” Witherington said that shift should change the composition of U.S. earnings over time, with net investment income declining and insurance service results increasing as CSM is generated and amortized.
Capital Position Remains Strong as Management Reaffirms Targets Manulife ended the quarter with a LICAT ratio of 136%, which Simpson said was $25 billion above its supervisory target ratio. The financial leverage ratio was 22.5%, below the company’s medium-term target of 25%.
Adjusted book value per share rose 6% from a year earlier to $39.01, even as the company returned $5.3 billion of capital to shareholders over the past year. During the quarter, Manulife returned $1.2 billion through dividends and buybacks. Its new buyback program, announced previously, allows the company to repurchase up to 2.5% of common shares outstanding.
Simpson said Manulife continues to expect 60% to 70% of earnings to convert into remittances, supported by a shift toward capital-generative products and strong subsidiary capital positions.
Management also highlighted strategic initiatives, including the acquisition of Schroders Indonesia, a partnership with L&G, expanded U.S. distribution and new AI tools across the enterprise. Witherington said developer productivity rose 30% in the quarter from AI tools, while an AI-powered U.S. retail sales platform in Global WAM increased meaningful advisor interactions by 40%.
Witherington said Manulife remains focused on executing its refreshed strategy and reaffirmed the company’s 18%+ core ROE target by the end of 2027. “We stand by the 18%+ Investor Day target,” he said, adding that he expects improvements through 2026.
About Manulife Financial NYSE: MFCManulife Financial Corporation is a multinational insurance and financial services company headquartered in Toronto, Ontario. Founded in the late 19th century as The Manufacturers Life Insurance Company, Manulife provides a broad range of financial products and services to individual and institutional clients. Its core businesses include life and health insurance, retirement and pension solutions, wealth and asset management, and group benefits.
In wealth and asset management, Manulife operates through Manulife Investment Management and offers mutual funds, segregated funds, institutional asset management, and retirement plan solutions.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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Manulife Financial Corporation is rated Hold with a reiterated price target of $25/share, reflecting structural unattractiveness post-1Q26. MFC's core U.S. and Canadian insurance segments underperformed, with deteriorating fundamentals and significant $4.4B net outflows in wealth management. The company's persistent cost ratio (46%) and declining investment spreads challenge the bullish thesis and signal margin compression risk.
Changes Include Canada Segment, Hong Kong, AI and Data, and Technology and Operations New Team Structure Enables Execution Against Strategic Priorities for Long-term Growth TORONTO, May 21, 2026 /PRNewswire/ - Manulife has announced changes to its executive and senior leadership teams across Canada, Hong Kong, AI and Data, and Technology and Operations to enable sustainable, long-term growth as the company executes its refreshed enterprise strategy. "These important leadership changes ensure we have the right capabilities, both at the enterprise level and in our key markets of Canada and Hong Kong, to achieve our bold ambition and deliver against our new strategic priorities," said Phil Witherington, President and CEO of Manulife.
, /PRNewswire/ - Manulife Financial Corporation ("Manulife") announced today that it has priced an offering in Singapore of S$500 million principal amount of 2.880% subordinated notes due June 4, 2036 (the "Notes"). The offering will be made pursuant to an offering circular dated May 26, 2026 and will qualify as Tier 2 capital for Manulife.
The Notes will bear interest at a fixed rate of 2.880% until June 4, 2031 and thereafter at a rate of 0.931% over the then-prevailing five-year SORA OIS rate. The Notes mature on June 4, 2036.
Manulife may, with the prior approval of the Superintendent of Financial Institutions (Canada), redeem the Notes in whole, but not in part, on June 4, 2031 and on any interest payment date thereafter at a redemption price equal to par, together with accrued and unpaid interest to, but excluding, the date fixed for redemption. The Notes will constitute subordinated indebtedness, ranking equally and rateably with all other subordinated indebtedness of Manulife from time to time issued and outstanding (other than subordinated indebtedness which has been further subordinated in accordance with its terms).
Approval in-principle has been received from the Singapore Exchange Securities Trading Limited (the "SGX-ST") for the listing and quotation of the Notes on the Official List of the SGX-ST. The SGX-ST takes no responsibility for the correctness of any of the statements made or opinions expressed or reports contained in this press release. Admission of the Notes to the Official List of the SGX-ST and quotation of the Notes on the SGX-ST are not to be taken as an indication of the merits of Manulife, its subsidiaries, associated companies or the merits of the Notes.
DBS Bank Ltd., The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch and Standard Chartered Bank (Singapore) Limited, have been appointed as joint lead managers and bookrunners for the offering. Bank of China Limited, Singapore Branch has been appointed as co-manager for the offering.
The offering is expected to close on June 4, 2026.
The Notes have not been and will not be registered in the United States under the United States Securities Act of 1933, as amended (the "Securities Act"), or the securities laws of any state of the United States or other jurisdiction and may not be offered or sold within the United States, or to, or for the account or benefit of, "U.S. persons" (as defined in Regulation S under the Securities Act) except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state or local securities law. The offering will be made solely to non-U.S. persons in offshore transactions pursuant to Regulation S under the Securities Act. This press release does not constitute an offer to sell or a solicitation to buy securities in the United States or any other jurisdiction where it is unlawful to do so.
The Notes will not be offered or sold, directly or indirectly, in Canada or to any resident of Canada.
About Manulife
Manulife Financial Corporation is a leading international financial services provider, headquartered in Toronto, Canada. Anchored in our ambition to be the number one choice for customers, we operate as Manulife across Canada and Asia, and primarily as John Hancock in the United States, providing financial advice, insurance and health solutions for individuals, groups and businesses. Through Manulife Wealth & Asset Management, we offer global investment solutions, financial advice, and retirement plan services to individuals, institutions, and retirement plan members worldwide. At the end of 2025, we had more than 37,000 employees, over 106,000 agents, and thousands of distribution partners, serving over 37 million customers with operations across 25 markets globally. We trade as 'MFC' on the Toronto, New York, and Philippine stock exchanges, and under '945' on the Hong Kong stock exchange.
Not all offerings are available in all jurisdictions. For additional information, please visit manulife.com.
Media Contact
Fiona McLean
Manulife
437-441-7491
[email protected]
Manulife stock sold off almost 6% after Q1 2026 earnings on a single line item, while its Asia core earnings grew 22% and NBV 15%. The residual income valuation model anchored on Damodaran's industry beta puts intrinsic value at C$76 vs. C$52; on per-name beta, roughly fair. MFC's reported P/B of 2.0x ignores C$25.6B of net CSM. On adjusted book value, MFC trades at 1.3x.
Key Takeaways MFC and Alibaba Cloud will explore a joint AI hub for insurance-focused applications.Manulife aims to improve personalization, fraud detection and operational efficiency with AI.MFC expects enterprise AI initiatives to generate more than CAD 1B in value by 2027. Manulife Financial Corporation (MFC - Free Report) is accelerating its AI transformation strategy through a new partnership between its Hong Kong business and Alibaba Cloud. The collaboration aims to advance responsible AI innovation and support the deployment of AI-powered solutions across customer engagement, operations and risk management functions.
Under the agreement, Manulife Hong Kong and Alibaba Cloud will explore establishing a joint AI hub to develop next-generation AI applications tailored to the insurance industry. The initiative is expected to focus on enhancing customer experiences, improving service personalization, strengthening fraud detection capabilities and driving greater operational efficiency.
The partnership builds on Manulife's broader ambition to become an AI-powered organization. By combining its insurance expertise with Alibaba Cloud's AI and cloud infrastructure capabilities, the company seeks to accelerate innovation while maintaining strong data governance, privacy and regulatory standards.
The move aligns with a growing industry trend in which insurers are increasingly leveraging artificial intelligence to improve productivity, streamline claims and underwriting processes, and deliver more personalized services. AI-driven automation can also help reduce operating costs and improve responsiveness, supporting long-term profitability.
Manulife has already deployed AI across several areas of its Hong Kong operations, including customer engagement tools, data-driven insights for distribution teams and intelligent automation. The company is scaling these efforts globally and expects its enterprise AI initiatives to generate more than CAD 1 billion in value by 2027.
As insurers continue investing in digital transformation, Manulife's expanding AI ecosystem could strengthen its competitive positioning while supporting sustainable long-term growth. This partnership will aid the development of AI applications within the insurance industry while reinforcing Hong Kong's position as a regional hub for AI innovation.
How Are Competitors Faring?Peers like Sun Life Financial Inc. (SLF - Free Report) and Reinsurance Group of America, Incorporated (RGA - Free Report) are also accelerating AI adoption across their operations to enhance underwriting speed, strengthen customer engagement and support long-term growth.
SLF has been leveraging generative AI and advanced analytics across customer service, claims processing and advisor support functions to streamline operations and improve productivity. Sun Life also introduced its AI agent "Iris" to improve employee productivity and service efficiency.
RGA has been investing in AI-powered underwriting, predictive analytics and automated risk assessment tools to improve underwriting speed and accuracy. The company has also expanded partnerships with insurtech firms and digital health providers to leverage alternative data sources and advanced analytics in life and health insurance underwriting.
MFC’s Price Performance, Valuation & EstimatesShares of MFC have increased 19.1% compared with the Zacks Life Insurance industry’s growth of 9%.
Image Source: Zacks Investment Research
From a valuation standpoint, MFC trades at a forward price-to- earnings ratio of 11.49X, higher than the industry average of 10.06X.
Image Source: Zacks Investment Research
The Zacks Consensus Estimates for 2026 and 2027 earnings moved 2.4% and 0.3% south, respectively, in the last 60 days.
Image Source: Zacks Investment Research
The consensus estimates for MFC’s 2026 and 2027 EPS indicate a year-over-year increase.
The consensus estimate for revenues is currently pegged at $31.53 billion for 2026, indicating a 27.9% year-over-year decrease.
MFC currently has a Zacks Rank #4 (Sell). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Indexes for US equity real estate investment trusts fell further alongside the broader stock market during the week ended March 13. The Dow Jones Equity All REIT index closed the recent week down 1.52%, while the S&P 500 and Dow Jones Industrial Average fell 1.60% and 1.99%, respectively. The healthcare REIT index was the only property sector index to rise and was up 1.17%.
Diversified Healthcare Trust (NASDAQ: DHC - Get Free Report) was the recipient of a significant increase in short interest in March. As of March 13th, there was short interest totaling 7,519,124 shares, an increase of 20.6% from the February 26th total of 6,237,195 shares. Approximately 3.5% of the shares of the company are short sold. Based
NEWTON, Mass.--(BUSINESS WIRE)--Diversified Healthcare Trust (Nasdaq: DHC) today announced that it will issue a press release containing its first quarter 2026 financial results after the Nasdaq closes on Monday, May 4, 2026. On Tuesday, May 5, 2026 at 10:00 a.m. Eastern Time, President and Chief Executive Officer Christopher Bilotto, Chief Financial Officer and Treasurer Matthew Brown and Vice President Anthony Paula will host a conference call to discuss these results. The conference call tel.
NEWTON, Mass.--(BUSINESS WIRE)--Diversified Healthcare Trust (Nasdaq: DHC) today announced a regular quarterly cash distribution on its common shares of $0.01 per share ($0.04 per share per year). This distribution will be paid to DHC's common shareholders of record as of the close of business on April 21, 2026 and distributed on or about May 14, 2026. About Diversified Healthcare Trust: DHC is a real estate investment trust, or REIT, focused on owning high-quality healthcare properties located.
NEWTON, Mass.--(BUSINESS WIRE)--Diversified Healthcare Trust (Nasdaq: DHC) today announced its financial results for the quarter ended March 31, 2026, which can be found at the Quarterly Reports section of DHC's website at https://www.dhcreit.com/investors/financial-information/quarterly/default.aspx.
A conference call to discuss DHC's first quarter 2026 financial results will be held on Tuesday, May 5, 2026 at 10:00 a.m. Eastern Time. The conference call may be accessed by dialing (877) 329-4297 or (412) 317-5435 (if calling from outside the United States and Canada); a pass code is not required. A replay will be available for one week by dialing (855) 669-9658; the replay pass code is 1482489. A live audio webcast of the conference call will also be available in a listen-only mode on DHC's website, at www.dhcreit.com. The archived webcast will be available for replay on DHC's website after the call. The transcription, recording and retransmission in any way of DHC's first quarter conference call are strictly prohibited without the prior written consent of DHC.
About Diversified Healthcare Trust:
DHC is a real estate investment trust focused on owning high-quality healthcare properties located throughout the United States. DHC seeks diversification across the health services spectrum by care delivery and practice type, by scientific research disciplines and by property type and location. As of March 31, 2026, DHC’s approximately $6.2 billion portfolio included 285 properties in 33 states and Washington, D.C., with 23,901 senior living units, approximately 5.6 million square feet of medical office and life science properties and occupied by approximately 250 tenants. DHC is managed by The RMR Group (Nasdaq: RMR), a leading U.S. alternative asset management company with over $37 billion in assets under management as of March 31, 2026 and 40 years of institutional experience in buying, selling, financing and operating commercial real estate. DHC is headquartered in Newton, MA. For more information, visit www.dhcreit.com.
A Maryland Real Estate Investment Trust with transferable shares of beneficial interest listed on the Nasdaq.
No shareholder, Trustee or officer is personally liable for any act or obligation of the Trust.
Diversified Healthcare (DHC - Free Report) came out with quarterly funds from operations (FFO) of $0.14 per share, beating the Zacks Consensus Estimate of $0.13 per share. This compares to FFO of $0.06 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an FFO surprise of +7.69%. A quarter ago, it was expected that this residential care real estate investment trust would post FFO of $0.12 per share when it actually produced FFO of $0.09, delivering a surprise of -25%.
Over the last four quarters, the company has surpassed consensus FFO estimates just once.
Diversified Healthcare, which belongs to the Zacks REIT and Equity Trust - Other industry, posted revenues of $366.47 million for the quarter ended March 2026, missing the Zacks Consensus Estimate by 1.23%. This compares to year-ago revenues of $386.86 million. The company has topped consensus revenue estimates just once over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future FFO expectations will mostly depend on management's commentary on the earnings call.
Diversified Healthcare shares have added about 61.7% since the beginning of the year versus the S&P 500's gain of 5.6%.
What's Next for Diversified Healthcare?While Diversified Healthcare has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's FFO outlook. Not only does this include current consensus FFO expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Diversified Healthcare was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus FFO estimate is $0.14 on $383.19 million in revenues for the coming quarter and $0.57 on $1.55 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, REIT and Equity Trust - Other is currently in the top 20% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, Gladstone Land (LAND - Free Report) , has yet to report results for the quarter ended March 2026. The results are expected to be released on May 11.
This real estate investment trust specializing in farmland is expected to post quarterly earnings of $0.01 per share in its upcoming report, which represents a year-over-year change of -83.3%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Gladstone Land's revenues are expected to be $14.2 million, down 15.5% from the year-ago quarter.
NEWTON, Mass.--(BUSINESS WIRE)--Diversified Healthcare Trust (Nasdaq: DHC) today announced that President and Chief Executive Officer Chris Bilotto and Chief Financial Officer and Treasurer Matthew Brown will be presenting at Nareit's REITweek 2026 Investor Conference in New York, NY on Tuesday, June 2, 2026 at 1:45 p.m. Eastern Time. A live audio webcast of the presentation will be available in a listen-only mode on the company's website at https://www.dhcreit.com/investors/events-and-presenta.
May 25, 2026 08:44 ET | Source: Canadian Commercial Corporation
OTTAWA, May 25, 2026 (GLOBE NEWSWIRE) -- CCC is pleased to announce that De Havilland Canada (DHC) is on track to deliver the world’s most advanced, purpose‑built waterbomber to European partners. In 2024, CCC signed government-to-government (G2G) contracts with six European countries for the first twenty (22) Canadair 515. The G2G contract is the largest purchase order in DHC’s history, generating thousands of direct and indirect jobs across Canada.
DHC's Canadair 515 program continues to advance, marking an important milestone in Canada’s contribution to global aerial firefighting capabilities. Designed and manufactured in Canada, the 515 builds on the proven Canadair aerial firefighter lineage while incorporating modern avionics, enhanced safety features and updated production standards. The aircraft is purpose‑built to respond to the growing operational demands faced by firefighting agencies, as climate‑driven wildfire risks continue to escalate globally.
CCC’s G2G contracting approach helped secure six individual government contracts, providing the certainty and scale necessary for DHC to establish the new Canadair 515 production line in Canada. As Prime Contractor, CCC is proud to work alongside DHC to ensure timely, reliable delivery of these next‑generation aircraft. Through this collaboration, CCC is helping align international requirements with Canadian industrial capacity, strengthening global wildfire response while supporting skilled jobs and advanced manufacturing at home.
The Canadair 515 program reinforces the Canada’s leadership in specialized aircraft manufacturing. As production progresses, CCC and DHC remain focused on meeting customer requirements, while upholding the highest standards of quality, safety and performance.
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CCC celebrates production launch of De Havilland Canadair 515
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CCC is Canada’s government to government contracting agency. We help build successful commercial relationships between Canadian businesses and governments around the world through our government-to-government contracting approach. We are also the U.S. Department of Defense designated contracting authority for procurements from Canada. To learn more about how we have facilitated billions in trade between Canadian businesses and governments around the world, visit ccc.ca.
NEWTON, Mass.--(BUSINESS WIRE)--Diversified Healthcare Trust (Nasdaq: DHC) today announced that it has increased its full year 2026 guidance, driven by disciplined expense management, procurement efficiencies and cost savings from recent operator transitions, as well as continued improvements across its senior housing operating portfolio (“SHOP”).
DHC now expects full year 2026 SHOP net operating income (“NOI”) to be in the range of $185 million to $195 million, an increase from its prior guidance range, issued on February 23, 2026 and confirmed most recently on May 4, 2026, of $175 million to $185 million. As a result, DHC now expects 2026 total NOI to be in the range of $307 million to $323 million, compared to its prior guidance range of $297 million to $313 million, and Adjusted EBITDAre is now expected to be between $300 million and $315 million, a $10 million increase at the midpoint. Normalized funds from operations (“Normalized FFO”) per share is now expected to be in the range of $0.56 to $0.62, a $0.04 increase at the midpoint.
Chris Bilotto, President and Chief Executive Officer of DHC, made the following statement:
“Our increased 2026 NOI guidance reflects strong execution across our SHOP portfolio, including disciplined expense management and the early benefits of our recent operator transitions. We are realizing meaningful cost efficiencies, particularly within food and beverage and labor, while continuing to drive revenue growth through occupancy gains and rate increases. We expect these operational improvements to continue throughout 2026, supported by active asset management and favorable industry fundamentals, including sustained demand and limited new supply. We believe this positions us to deliver continued margin expansion and achieve our revised NOI guidance for the remainder of 2026.”
DHC’s updated SHOP NOI guidance assumes approximately 300 basis points of year-over-year occupancy growth, revenue growth of approximately 8.0%, and average monthly rate increases of approximately 5.3%, partially offset by operating expense growth of approximately 4.5%. An updated investor presentation reflecting DHC’s revised guidance and assumptions can be accessed on the Investors section of DHC’s website at www.dhcreit.com. DHC does not provide a reconciliation of non-generally accepted accounting principles (“GAAP”) measures that it discloses as part of its annual guidance or long term outlook because certain significant information required for such reconciliation is not available without unreasonable efforts, or at all, including, most notably, impairment of assets, gain (loss) on sale of properties, loss on modification or early extinguishment of debt and equity in net earnings of investees. These items that would be contained in the comparable GAAP measures are not indicative of DHC’s ongoing operations, are uncertain, depend on various factors, and could have a material impact on DHC’s GAAP results for the guidance period.
About Diversified Healthcare Trust
DHC is a real estate investment trust focused on owning high-quality healthcare properties located throughout the United States. DHC seeks diversification across the health services spectrum by care delivery and practice type, by scientific research disciplines and by property type and location. As of March 31, 2026, DHC’s approximately $6.2 billion portfolio included 285 properties in 33 states and Washington, D.C., with 23,901 senior living units, approximately 5.6 million square feet of medical office and life science properties and occupied by approximately 250 tenants. DHC is managed by The RMR Group (Nasdaq: RMR), a leading U.S. alternative asset management company with over $37 billion in assets under management as of March 31, 2026 and 40 years of institutional experience in buying, selling, financing and operating commercial real estate. DHC is headquartered in Newton, MA. For more information, visit www.dhcreit.com.
WARNING CONCERNING FORWARD-LOOKING STATEMENTS
This press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. Also, whenever DHC uses words such as “believe”, “expect”, “anticipate”, “seek”, “intend”, “plan”, “estimate”, “will”, “may” and negatives or derivatives of these or similar expressions, DHC is making forward-looking statements. These forward-looking statements are based upon DHC’s present intent, beliefs or expectations, but forward-looking statements are not guaranteed to occur and may not occur. For example:
This press release includes DHC’s full year 2026 guidance, including with respect to NOI, Adjusted EBITDAre and Normalized FFO. However, DHC’s guidance is based on certain assumptions, which may not occur. As a result, DHC may not achieve the expected results provided in its guidance. Mr. Bilotto made statements in this press release regarding strong execution across DHC’s SHOP portfolio and expected operational improvements, active asset management and favorable industry fundamentals. However, DHC may not be able to continue to realize cost efficiencies and drive revenue growth through occupancy gains and rate increases as and/or when expected. Further, DHC cannot be sure that industry fundamentals will remain favorable. As result, DHC may not be able to deliver continued margin expansion in the SHOP portfolio and achieve its revised guidance for the remainder of 2026. Actual results may differ materially from those contained in or implied by DHC’s forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors, some of which are beyond DHC’s control.
The information contained in DHC’s filings with the Securities and Exchange Commission (the “SEC”), including under “Risk Factors” in DHC’s periodic reports, or incorporated therein, identifies other important factors that could cause DHC’s actual results to differ materially from those stated in or implied by DHC’s forward-looking statements. DHC’s filings with the SEC are available on the SEC’s website at www.sec.gov.
You should not place undue reliance upon forward-looking statements.
Except as required by law, DHC does not intend to update or change any forward-looking statements as a result of new information, future events or otherwise.
A Maryland Real Estate Investment Trust with transferable shares of beneficial interest listed on the Nasdaq.
No shareholder, Trustee or officer is personally liable for any act or obligation of the Trust.
Diversified Healthcare Trust Announces Increase to 2026 Guidance as Cost Savings from Recent Operator Transitions Accelerate Diversified Healthcare Trust (Nasdaq: DHC) today announced that it has increased its full year 2026 guidance, driven by disciplined expense management, procurement efficiencies and cost savings from recent operator transitions, as well as continued improvements across its senior housing operating portfolio (“SHOP”).
DHC now expects full year 2026 SHOP net operating income (“NOI”) to be in the range of $185 million to $195 million, an increase from its prior guidance range, issued on February 23, 2026 and confirmed most recently on May 4, 2026, of $175 million to $185 million. As a result, DHC now expects 2026 total NOI to be in the range of $307 million to $323 million, compared to its prior guidance range of $297 million to $313 million, and Adjusted EBITDAre is now expected to be between $300 million and $315 million, a $10 million increase at the midpoint. Normalized funds from operations (“Normalized FFO”) per share is now expected to be in the range of $0.56 to $0.62, a $0.04 increase at the midpoint.
Chris Bilotto, President and Chief Executive Officer of DHC, made the following statement:
“Our increased 2026 NOI guidance reflects strong execution across our SHOP portfolio, including disciplined expense management and the early benefits of our recent operator transitions. We are realizing meaningful cost efficiencies, particularly within food and beverage and labor, while continuing to drive revenue growth through occupancy gains and rate increases. We expect these operational improvements to continue throughout 2026, supported by active asset management and favorable industry fundamentals, including sustained demand and limited new supply. We believe this positions us to deliver continued margin expansion and achieve our revised NOI guidance for the remainder of 2026.”
DHC’s updated SHOP NOI guidance assumes approximately 300 basis points of year-over-year occupancy growth, revenue growth of approximately 8.0%, and average monthly rate increases of approximately 5.3%, partially offset by operating expense growth of approximately 4.5%. An updated investor presentation reflecting DHC’s revised guidance and assumptions can be accessed on the Investors section of DHC’s website at www.dhcreit.com. DHC does not provide a reconciliation of non-generally accepted accounting principles (“GAAP”) measures that it discloses as part of its annual guidance or long term outlook because certain significant information required for such reconciliation is not available without unreasonable efforts, or at all, including, most notably, impairment of assets, gain (loss) on sale of properties, loss on modification or early extinguishment of debt and equity in net earnings of investees. These items that would be contained in the comparable GAAP measures are not indicative of DHC’s ongoing operations, are uncertain, depend on various factors, and could have a material impact on DHC’s GAAP results for the guidance period.
About Diversified Healthcare Trust
DHC is a real estate investment trust focused on owning high-quality healthcare properties located throughout the United States. DHC seeks diversification across the health services spectrum by care delivery and practice type, by scientific research disciplines and by property type and location. As of March 31, 2026, DHC’s approximately $6.2 billion portfolio included 285 properties in 33 states and Washington, D.C., with 23,901 senior living units, approximately 5.6 million square feet of medical office and life science properties and occupied by approximately 250 tenants. DHC is managed by The RMR Group (Nasdaq: RMR), a leading U.S. alternative asset management company with over $37 billion in assets under management as of March 31, 2026 and 40 years of institutional experience in buying, selling, financing and operating commercial real estate. DHC is headquartered in Newton, MA. For more information, visit www.dhcreit.com.
WARNING CONCERNING FORWARD-LOOKING STATEMENTS
This press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. Also, whenever DHC uses words such as “believe”, “expect”, “anticipate”, “seek”, “intend”, “plan”, “estimate”, “will”, “may” and negatives or derivatives of these or similar expressions, DHC is making forward-looking statements. These forward-looking statements are based upon DHC’s present intent, beliefs or expectations, but forward-looking statements are not guaranteed to occur and may not occur. For example:
This press release includes DHC’s full year 2026 guidance, including with respect to NOI, Adjusted EBITDAre and Normalized FFO. However, DHC’s guidance is based on certain assumptions, which may not occur. As a result, DHC may not achieve the expected results provided in its guidance. Mr. Bilotto made statements in this press release regarding strong execution across DHC’s SHOP portfolio and expected operational improvements, active asset management and favorable industry fundamentals. However, DHC may not be able to continue to realize cost efficiencies and drive revenue growth through occupancy gains and rate increases as and/or when expected. Further, DHC cannot be sure that industry fundamentals will remain favorable. As result, DHC may not be able to deliver continued margin expansion in the SHOP portfolio and achieve its revised guidance for the remainder of 2026. Actual results may differ materially from those contained in or implied by DHC’s forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors, some of which are beyond DHC’s control.
The information contained in DHC’s filings with the Securities and Exchange Commission (the “SEC”), including under “Risk Factors” in DHC’s periodic reports, or incorporated therein, identifies other important factors that could cause DHC’s actual results to differ materially from those stated in or implied by DHC’s forward-looking statements. DHC’s filings with the SEC are available on the SEC’s website at www.sec.gov.
You should not place undue reliance upon forward-looking statements.
Except as required by law, DHC does not intend to update or change any forward-looking statements as a result of new information, future events or otherwise.
A Maryland Real Estate Investment Trust with transferable shares of beneficial interest listed on the Nasdaq.
No shareholder, Trustee or officer is personally liable for any act or obligation of the Trust.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260601854107/en/
Diversified Healthcare Trust is executing a strategic transformation, reducing net debt and selling assets while driving revenue and EBITDA growth. Despite a smaller property portfolio, DHC has improved occupancy rates and average monthly rates, particularly in its Senior Housing Operating Portfolio. Management raised 2026 guidance for NOI, EBITDA, and adjusted FFO per share, reflecting operational momentum and cost-cutting successes.
Diversified Healthcare (DHC) saw its shares surge in the last session with trading volume being higher than average. The latest trend in FFO estimate revisions may not translate into further price increase in the near term.
HERNDON, Va.--(BUSINESS WIRE)---- $BKSY #earnings--BlackSky Technology Inc. (“BlackSky” or the “Company”) (NYSE: BKSY) announced results for the first quarter ended March 31, 2026. “With up to $160 million in new contract wins, we are rapidly growing revenues driven by the demand for Gen-3 space-based intelligence and AI services,” said Brian E. O'Toole, BlackSky CEO. “We are raising our guidance for the year based on strong year-to-date sales performance, in-year revenue visibility, and accelerated demand for bes.
BlackSky Technology Inc. (BKSY - Free Report) came out with a quarterly loss of $0.82 per share versus the Zacks Consensus Estimate of a loss of $0.37. This compares to a loss of $0.42 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -120.13%. A quarter ago, it was expected that this company would post a loss of $0.25 per share when it actually produced a loss of $0.19, delivering a surprise of +24%.
Over the last four quarters, the company has surpassed consensus EPS estimates two times.
BlackSky Technology, which belongs to the Zacks Technology Services industry, posted revenues of $20.77 million for the quarter ended March 2026, missing the Zacks Consensus Estimate by 26.66%. This compares to year-ago revenues of $29.54 million. The company has not been able to beat consensus revenue estimates over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
BlackSky Technology shares have added about 116.1% since the beginning of the year versus the S&P 500's gain of 7.6%.
What's Next for BlackSky Technology?While BlackSky Technology has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for BlackSky Technology was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.38 on $30.65 million in revenues for the coming quarter and -$1.33 on $133.86 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Technology Services is currently in the bottom 27% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, QXO, Inc. (QXO - Free Report) , has yet to report results for the quarter ended March 2026.
This company is expected to post quarterly loss of $0.09 per share in its upcoming report, which represents a year-over-year change of -200%. The consensus EPS estimate for the quarter has been revised 14.7% higher over the last 30 days to the current level.
QXO, Inc.'s revenues are expected to be $1.72 billion, up 12622.1% from the year-ago quarter.
